UTRUST to deploy Pundi X POS to enable physical retailers to accept cryptocurrency payments

SINGAPORE, June 20, 2018 /PRNewswire/ -- Two of the world's leading digital payment platforms are joining forces to build an offline cryptocurrency payment platform for mainstream adoption.

Pundi X's market-leading blockchain-based point-of-sale ("POS") solution provider is currently in pilot production and will, in the coming weeks, begin shipping to markets including Singapore, Switzerland, and Japan where it will enable merchants to conduct offline cryptocurrency transactions, as Pundi X and UTRUST sign a deal to promote cryptocurrency payments in stores and secure them with consumer protection.

Under the terms of a deal signed in Singapore today, UTRUST will commit to acquiring 1,000 units of Pundi's XPOS technology, a point-of-sales device that allows retailers to transact in, buy and sell multiple cryptocurrencies.

Pundi X, in turn, will deploy UTRUST as a liquidity provider for transactions on its devices and use its technology for account settlements. UTRUST is a leading cryptocurrency payments gateway and the first cryptocurrency payments platform in the world to implement consumer-focused cryptocurrency solutions, including buying and selling cryptocurrencies.

Today's deal with UTRUST takes the number of units of Pundi X technology that have been ordered for use by retail clients to over 25,000, or over one-quarter of the company's three-year sales target of 100,000 devices.

Swiss-based UTRUST has developed a groundbreaking purchase protection mechanism that can ensure that cryptocurrencies are transacted in a safe environment and while securing a trust relationship between buyer and seller.

"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," said Zac Cheah the CEO and co-founder of Pundi X. "Partnering with UTRUST as our merchant payment settlement gateway is a substantial addition to Pundi's XPOS and grants us a trusted provider for liquidity, but also for customer security".

Nuno Correia, the CEO of UTRUST said: "We see here today in Singapore a partnership of two leading blockchain-based cryptocurrency payment projects with benefits flowing to the entire cryptocurrency ecosystem.

"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".

About UTRUST

UTRUST is the world's first payment platform for cryptocurrencies featuring Buyer Protection and Instant Payments. The company is building a global PayPal-like payment platform with extensive cryptocurrency support. Providing faster, safer and more convenient payments is the platform's ultimate goal, which will ensure large-scale adoption and user acceptance. Learn more about the project at www.utrust.com.

About Pundi X

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

SOURCE Pundi X