Xiaomi Awaits Regulatory Clarity to Accept Crypto
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Main page News, China, Crypto Market

Xiaomi, a Chinese multinational electronics company, sees a lot of potential in the cryptocurrency market. Manu Kumar Jain, Vice President, Xiaomi and Managing Director for Xiaomi India, told ET Telecom that the industry is "extremely interesting," however, it lacks regulatory clarity. The Chinese tech giant plans to wait for "all the regulatory things."

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"Of course, crypto is an area, which is extremely interesting, and is the biggest buzzword and is doing exceptionally well. But, we would want to understand more on the regulation side," he said.

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Kumar Jain says the company has also started offering business loans and will soon launch gold loan as its financial service business has gone too big to become an independent one. Xiaomi's statement comes after Apple published a new job vacancy, according to which, the Cupertino-based is looking for a new business development manager focused on "alternative payments."

The job posting claims the candidate should have 5+ years experience working in or with alternative payment providers, such as "digital wallets, BNPL, Fast Payments, cryptocurrency and etc."

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