The application will function as a crypto wallet and provide access to decentralized services. Developers claim that users will be able to make P2P payments and interact with decentralized applications (dApps) without downloading additional programs.
Xiaomi holds the third position in the global smartphone market, trailing only Apple and Samsung, with a share of over 13%, which is equivalent to approximately 160 million devices per year. This collaboration could help millions of users get acquainted with cryptocurrencies, especially in regions where the brand has a strong presence, such as Greece (36.9% market share) and India (around 24%). Sei Labs' plans extend beyond smartphones.
The company also intends to implement the ability to pay with stablecoins, such as USDC, at more than 20,000 Xiaomi retail locations worldwide, starting with Hong Kong and several EU countries. All transactions will be conducted on the Sei blockchain. However, for many users, the pre-installed application may seem like bloatware.
Xiaomi has already faced criticism for the large number of pre-installed applications. Although the company is striving to be more transparent, this partnership may be perceived as a step backward. The default installation of crypto applications that most users are unaware of and do not plan to use raises certain concerns.
