Pundi X starts bringing cryptocurrencies to physical stores in 2018

SINGAPORE, Jan. 2, 2018 /PRNewswire/ -- Pundi X, a cryptocurrency point-of-sale ("POS") solutions provider for retail stores, today announced that it launched three working products before its public token sales on January 21, 2018. These POS devices can help the retail store owners to convert crypto to fiat, crypto to crypto to fiat and fiat to crypto for transactions. The company also established strategic partnerships to roll out its POS devices in 2018.

Three working products made for different types of retailers

Pundi X has built and launched three types of POS devices that can cater needs of different kinds of of retail outlets. The first generation device- XPOS 1 is codenamed 'Mount Agung.' It can be installed in the stores with the limited space of the counter, such as restaurants, cafes or currency exchange booths.

XPOS 2 is 'Jade Dragon Snow Mountain.' It's small, light and highly portable Pundi X POS device. This type of device is suitable for the retailers in the farmer market where they don't have counter or less space to station their POS devices.

As for the third generation POS device, its code name is Halla. It comes with much larger screens and is designed for large retail stores with big counters so that the store owners can display the sales items or store advertisement.

All these three models are working products, NFC-compatible and be able to get integrated with Bitcoin, Ethereum, NEM, Qtum, Achain, Stellar Lumens and other blockchain platforms and enable consumers to easily check out items with cryptocurrencies (BTC, ETH, XEM, LTC, PXS, QTUM, XLM, ACT tokens), fiat money, bank card, mobile wallet or a Pundi X Pass card in the near future. These POS devices can help the retail store owners to convert crypto to fiat, crypto to crypto to fiat and fiat to crypto for transactions.

Getting cryptos to the mainstream in 2018

As for POS device roll-out plan, Pundi X has partnered with the companies in the US, Canada, Indonesia, India, the Philippines, and Singapore. They are Appsolutely covering the Philippines market, WandX and Retainly covering India, CannaSOS covering North America, U.CASH covering Canada and North America.

In Indonesia, the rollout will be built upon Pundi-Pundi (QR payment solution) with over 100,000 registered users and 600 partnered merchants. Pundi-Pundi recently signed a strategic partnership with Warmindo, a food stall chain owned by Indofood. About 45,000 Warmindo stalls will get Pundi solution for cashless transactions. Also, Pundi X, in collaboration with E2Pay will build a new financial app for a religious group in Indonesia with 100 million members. One of the objectives is to enable donation by using cryptocurrencies.

"Due to the inquiries we received during the roadshows, the team decided to get more working products ready before our public token sale begins. We know that we need to get the devices made immediately and distributed right after the fundraising," said Zac Cheah, CEO of Pundi X. "2018 will be an exciting year for Pundi X. We are ready and look forward to getting more cryptocurrencies in more places."

Public token sale starts on January 21 with a new hard cap

Pundi X will raise its funding through the public token sale. It will officially commence on January 21 and run until it reaches the hard cap of 35 million US dollars or January 31, 2018. The team plans to install at least 100,000 Pundi X POS devices over the next three years across all target markets.

The limited time pre-sales have already successfully raised a total of 10,833 ETH, 622 BTC, 597,442 XEM, and 50,000 QTUM - equivalent to 23  million US Dollars (price value as of December 20th) from 1,481 individual investors. Established token investors include Lon Wong President of NEM and Patrick Dai CEO and founder of Qtum.

About Pundi X

Pundi X is a cryptocurrency point-of-sale ("POS") solutions provider for retail stores seeking to accept digital currencies in Southeast Asia. Pundi X POS enables shops, cafes and convenience stores to sell cryptocurrency to the average consumer and builds on the success of Pundi-Pundi, which is one of Indonesia's most popular QR code cashless payment apps. Pundi-Pundi has already signed up more than 100,000 registered users and over 600 merchant partners in Jakarta in less than a year of operation.

To build a better cryptocurrency ecosystem, Pundi X is a member of XPOS Consortium, Indonesian Blockchain Association, Singapore Fintech Association, Fintech Association of Hong Kong, ACCESS, and Swiss Finance and Fintech Association.

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SOURCE Pundi X