Samsung Crypto Payment Rumors Debunked For Now


Recent rumors of Samsung getting into partnership with CopPay to allow Baltic countries to buy its products have since proven to be fake. This marks yet another example of how fake news is easy to spread within the crypto world.

Samsung not offering crypto payments in the Baltics after all

Recently, a new rumor appeared that had the community excited about the new advance that cryptocurrencies are making. The rumor claimed that Samsung is entering a new partnership with CopPay to facilitate three Baltic countries to buy Samsung products with cryptos.

However, Samsung has since stated that Estonia, Lithuania, and Latvia are not being the recipients of the new crypto deal. In fact, the two companies were never even planning a collaboration. Samsung’s spokesperson came out to say that the company’s official stance is that the rumor is false.

It would appear that the false partnership announcement came from CopPay’s page on Medium, with the release being called ‘Samsung stores accept cryptocurrencies via CopPay’. The partnership announcement is now long gone but, before it was removed, it promised that those visiting Samsung shops in Vilnius, Kaunas, Riga, and Tallinn will be able to buy Samsung tech in exchange for digital coins. The announcement ended by reminding readers to sign up for CopPay’s services.

Apparently, the platform claimed that they have entire trading deals allowing payment gateways in up to 31 Samsung stores in this region, and that the stores would accept Bitcoin, Litecoin, Ethereum, Ripple, NEM, Dash, and Steem.

The controversy continues

To make matters even more confusing, Ina Samovich, CopPay’s CEO, has insisted that the partnership was real. She stated that the company has signed the agreement with the official reseller and that there have been multiple transactions during the two weeks prior. The company can even prove that they have been making crypto payments via CopPay. She concluded her statement by saying that the company was not aware that the reseller did not inform the Samsung HQ about the cooperation of the companies.

Another official statement on CopPay’s Medium claims that the company is already providing solutions for Samsung product resellers in the three Baltics countries, with Samsung stores activating the new payment gateways, crypto transactions are being actively processed, and staff are fully trained to serve every token holder that walks in.

Samsung’s announcement that it has no intention to go crypto has caused resellers to suspend payment systems. The latest statement also said that CopPay never claimed that they have entered into an official partnership with Samsung HQ. However, they did admit to having said that there is a possibility of buying Samsung products via cryptocurrencies in the Baltic countries.

This marks the end of yet another fake partnership that had the crypto community hyped, only to disappoint them by proving to be false.

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