Samsung Denies Cryptocurrency In-store Purchases in the Baltics

A rumor spreads over the cryptocurrency world last week circulated that South Korean electronics giant Samsung would had entered a partnership with obscure Lithuanian blockchain startup CopPay and started to offer digital currency payments for their customers in Baltic states.

However, it seems to be a misreporting as a Samsung spokesperson has denied the partnership with CopPay according to crypto industrial media outlet Hard Fork.

“We official response is that the rumor is not true.”

The rumor was originally derived from a blog posted on CopPay’s Medium page, titled ‘Samsung stores accept cryptocurrencies via CopPay’ and stated that “Customers in Tallinn, Riga, Vilnius and Kaunas can by Samsung smartphones, tablets, laptops, TV-set and more with digital money”.

The firm also listed 7 different cryptocurrencies that will be accepted by the Samsung stores, including bitcoin (BTC), ethereum (ETH), litecoin (LTC), ripple (XRP), dash (DASH), and NEX (XEM). In the alleged partnership, CopPay claimed that it had setup merchant trading deals enabling payment gateways in 31 physical Samsung stores across the Baltic region.

At present, Coppay have deleted the original blog and has posted a new statement, indicated that they did provide solutions to the reseller of Samsung products in the Baltics. They had activated CopPay Payment Gates in Samsang stores and ‘even a few transactions were made.’

However, unfortunately, the reseller decided to suspend cryptocurrency payment method after Samsung officially announced that they have no plan for crypto payments.

Ina Samovich, CEO of CopPay insisted that the firm has indeed signed an agreement with the official reseller and they were not aware that reseller did not inform headquarters about the cooperation.

“We’ve never claimed that we enter into partnership with Samsung HQ. We announced about the possibility to buy Samsung products with cryptocurrencies in its Baltic stores,” she added in the statement.

In conclusion, Sansung stores in the Baltic states won’t be able to provide cryptocurrency payment option in a short time.

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