The application will function as a crypto wallet and gateway to decentralized services, allowing users to make P2P payments, interact with decentralized applications (dApps), and explore other blockchain products without the need to add additional apps. Xiaomi, ranked third in the world in smartphone sales after Apple and Samsung, holds a market share of over 13%, which is approximately 160 million devices per year. This collaboration could attract millions of users to cryptocurrencies, especially in countries where the company has a strong presence, such as Greece (36.9% market share) and India (around 24%).
Sei Labs plans to expand the adoption of stablecoin payments, such as USDC, in more than 20,000 Xiaomi retail stores worldwide, starting with Hong Kong and several EU countries. All transactions will be conducted through the Sei blockchain. However, many users may perceive the pre-installed application as unnecessary software (bloatware).
Xiaomi has faced criticism for the large number of pre-installed applications, and while the company is trying to be more transparent, this new partnership may be seen as a step backward. The default installation of crypto applications that are unfamiliar and unnecessary for most users raises certain concerns.
