Pundi X is a blockchain project that has developed physical point-of-sale XPOS devices to allow consumers to purchase multiple cryptocurrencies with fiat instantly, as well as facilitating instore purchases using cryptocurrencies with participating retail merchants. This week Pundi X was voted the winner of Binance’s 7th community coin competition, rewarded with a free listing on the world’s largest crypto exchange against BTC, ETH and BNB trading pairs.
UTRUST is a ‘Paypal-like’ platform for cryptocurrencies, providing high liquidity, security and advanced buyer protection services for its users. This partnership represents a huge milestone for both parties, as Pundi X’s physical multi asset POS devices becomes powered by UTRUST’s leading offline transaction settlement and buyer protection capabilities to make transacting with cryptocurrencies safe, fast and convenient.
“UTRUST has always been committed to enabling the use of fast, easy, and secure cryptocurrency payments. To partner with Pundi X and use its XPOS technology will help us immeasurably in achieving this goal”. -Nuno Correia, the CEO of UTRUST
According to the official UTRUST medium post, the deal signed between the two companies include an agreement that UTRUST will purchase 1,000 of Pundi X’s POS machines and in return, Pundi X will adopt UTRUST’s payment protection and settlement services across all operational devices. At this stage, Pundi X has secured over 25,000 orders for their instore crypto payment machines, which means they’re already 25% of the way towards reaching their 3 year sales target of 100,000 devices.
CEO and co-founder of Pundi X, Zac Cheah, believes this unity between the two companies is a significant movement forward for the crypto market in achieving mass market adoption,
“This is a major step for furthering the mass adoption of cryptocurrencies, which despite having taken the world by storm, still remain outside the engine room of the global economy in consumer spending,”
Pundi X is still currently developing prototype machines but is expected to begin deploying manufactured POS devices to Switzerland, Singapore and Japan over the next few weeks. They were also rumoured to have begun already installing devices in Indonesia, in anticipation of the national crypto ban being reconsidered in the near future. Now with UTRUST on board, these XPOS devices have the transaction capabilities to make purchasing with cryptocurrencies infinitely simpler and reduces the barrier towards mass market adoption.