Venezuela’s largest hypermarket chain to install Pundi X cryptocurrency terminals

Venezuela's largest hypermarket chain to install Pundi X cryptocurrency terminals

The operator of Venezuela’s largest hypermarket chain, Traki, plans to place XPOS cryptocurrency terminals developed by Singapore-based startup Pundi X for points of sale in 49 stores.

Pundi X terminals are already installed in 30 countries and the firm plans to sell 100,000 more XPOS devices by 2021. This is part of the company’s plan to promote cryptocurrencies for everyday use through an ecosystem of financial products such as cryptocurrency debit cards XPASS and Xwallet.

“We created XPOS in order to initiate real-world scenarios for using the blockchain. This goal correlates with the introduction of XPOS terminals in the Traki network, where customers can now pay for their daily purchases using cryptocurrencies, ” said Pundi X CEO Zac Cheah.

He also noted that Traki was one of the first companies to implement blockchain technology in Venezuela. The head of crypto assets at Traki, Michael Gomez, said:

“At Traki, we strive to offer the most convenient options for our customers, and cryptocurrencies have proven to be effective as a payment solution.”

Of the nearly 300,000 users of Pundi wallets, approximately 10% live in Venezuela. The XPOS system supports payments in various cryptocurrencies, including BTC, ETH, BNB, as well as the company’s own Pundi x NPXS and NPXSXEM tokens.

Note that cryptocurrencies are becoming more popular in Venezuela amid the ongoing economic crisis. According to recent information, Venezuela uses digital currencies to circumvent economic sanctions.

As for Pundi X, the potential of the Singapore startup continues to grow thanks to new successful partnerships. Last month, it became known that the cryptocurrency wallet from Pundi X will appear in the Samsung Galaxy S10.