Pundi X Makes Crypto Payments at Taiwanese Music Festival a Reality
It’s almost common knowledge that cryptocurrency can be used to pay for literally almost anything nowadays. According to a PR Newswire article, Asia’s biggest and most sought-after electronic music festivals, Ultra Taiwan, will be the first one to use blockchain technology for onsite transactions, courtesy of Pundi X.
The event was also advertised on the company’s official Twitter channel, via a post that stated that “Over 30,000 @UltraTaiwan participants will be able to purchase XPASS cards and conduct transactions on XPOS devices in over 35 retail outlets.” In short, UltraTaiwan participants will be able to pay with cryptocurrency through the devices (PoS terminals) provided by Pundi X.
As described by the announcement, Pundi X will sell over 30,000 of its X Passcards. The cards in question will be pre-charged with a digital currency dubbed Ultra Coin, the festival’s bespoke virtual token. The currency and the whole infrastructure provided by Pundi X will allow music lovers to pay for anything from food, drinks, to services and other types of merchandise.
Commenting on the practicality of blockchain and cryptocurrency technology at such an event, Zac Cheah, Pundi X’s CEO and co-founder, declared the following:
“While we have witnessed the rise of using blockchain technology for transactions in recent years, debate continues about their use for real-world payments. In a little more than two weeks, these doubts can be laid to rest […].”
Pundi X at the forefront of crypto expansion
With this latest announcement, Pundi X continues its relentless expansion and gains even more presence, not only in the Asian crypto scene but the international crypto scene as well. After Pundi X managed to raise $35 million in a crowdfunding event at the start of the year, it continuously invested in delivering PoS devices to shops in the country.
This is not the only big news from Pundi X, as the company has recently announced its intention to expand into the South American market and has even decided to set up a new office in Brazil.