- Xiaomi’s next-generation smartphone will have a preinstalled crypto wallet and discovery app powered by the Sei blockchain.
- The feature will enable users to immediately have access to stablecoin and crypto payment options across the brand’s shops and partner merchants.
- The digital asset wallet app will not be available in mainland China due to the ongoing crypto ban in the jurisdiction.
Sei (SEI) shocked the crypto space on Wednesday with an explosive announcement. The world’s fastest blockchain revealed that it has forged a partnership with giant electronics company Xiaomi.
Preinstalled Sei Crypto Wallet in Xiaomi Smartphones
According to a press release, the partnership paves the way for the native fusion of a next-generation crypto wallet and discovery app into Xiaomi smartphones. This feature is preinstalled, making it ready for immediate use.
However, due to ongoing crypto restrictions in mainland China, only versions of the devices sold outside the jurisdiction will benefit from them. Nonetheless, Sei’s evolution as an integral part of Xiaomi smartphones could spell something huge if the Asian superpower finally overturns its crypto ban.
Even with the current limitations, Sei blockchain’s integration with Xiaomi smart devices enables crypto and stablecoin payments at over 200,000 retail stores. These include Xiaomi shops selling products ranging from smartphones to electric vehicles (EVs).
Users can seamlessly sign up on the preinstalled crypto app using their Google and Xiaomi IDs. From there, they can enjoy the advantages offered by its integrated multi-party computation wallet security for peer-to-peer transfers and consumer-to-business transactions. Additionally, the app provides them with curated access to top crypto decentralized applications (dApps).
Jeff Feng, Co-Founder of Sei Labs, considers the latest development a “watershed moment for blockchain adoption.” For him, embedding Sei’s high-performance infrastructure into one of the world’s most popular smartphone ecosystems solves crypto’s onboarding problem. Hence, he believes it will pave the way for the potential entry of billions of users into the digital assets ecosystem.
Initial Availability
Xiaomi will initially launch the feature in regions where it has a significant market penetration. These include Europe, Latin America, Southeast Asia, and Africa. Furthermore, the company estimates that the rollout will immediately provide millions with their first exposure to crypto. Most of them will likely come from Greece and India, where the brand holds 36.9% and 24.2% market share, respectively.
Meanwhile, Xiaomi currently ranks among the top three smartphone manufacturers worldwide. It boasts 13% global market share, selling 168 million smartphones in 2024 alone.
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