Hong Kong Restaurants to Accept Crypto through Pundi X Devices

Customers at four restaurants in Hong Kong will be able to pay with crypto at Pundi X point-of-sale (POS) terminals.

Indonesia-based blockchain retail company Pundi X Labs has enabled the clients of four restaurants run by organic food chain FAMA Group in Hong Kong to pay with physical crypto-charged cards via Pundi X retail devices.

In an initiative seeking to bring cryptocurrencies closer to both retailers and consumers, Pundi X is giving away the so-called X PASS physical cards pre-charged with several virtual currencies, the company said on Wednesday. Attendees of the RISE technology conference held in Hong Kong on July 9-12 will get their cards for free and be able to use them at Sohofama, Locofama, SUPAFOOD, and the Hive Café in Hong Kong.

Pundi X co-founder and CEO Zac Cheah tweeted an invitation to the new project:

Each X PASS card is charged with 0.001 BTC, 500 NPXS (Pundi X’s own coin), and 50 ADI, with the total value corresponding to about HK$73.70 (around $9.40). The blockchain company has already installed POS terminals at the four locations.

“Our restaurants celebrate traditional methods in our cuisine, but we also see ourselves as innovators and are pleased to be on the frontline in enabling customers to settle their bill with Bitcoin or ether-based cryptocurrency by using a secure payment option such as the Pundi X POS,” noted Larry Tang, founder of FAMA Group.

Commenting on Pundi X’s incentives to establish this partnership, Cheah said:

"Adoption of cryptocurrencies in East Asia is probably the highest in the world; however, there are still few channels for spending digital currency today, and this is what we want to change by working with retail outlets such as the forward-thinking FAMA Group."

According to Cheah, the Pundi X project is set to continue expanding in the Asian region, aiming to support a wider use of cryptocurrencies in the long run.