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

The operator of the largest Venezuelan hypermarket chain Traki plans to place XPOS cryptocurrency terminals developed by Singaporean startup Pundi X for points of sale in 49 stores.

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

“We created XPOS to initiate real blockchain usage scenarios. This goal is correlated with the introduction of XPOS terminals on the Traki network, whose 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 introduce blockchain technology in Venezuela. Traki crypto assets manager Michael Gomez said:

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

Of the nearly 300,000 Pundi wallet users, approximately 10% live in Venezuela. XPOS system supports payments in various cryptocurrencies, including BTC, ETH, BNB, as well as Pundi X NPXS and NPXSXEM own tokens.

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

As for Pundi X, the potential of Singaporean startups 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.