Pundi X Partners Up with Traki to Enable Crypto Payments in Venezuela
Pundi X Traki

Pundi X Partners Up with Traki to Enable Crypto Payments in Venezuela

Editorial Team Avatar
Aug 22, 2019
3 min reading time

Blockchain company Pundi X has revealed that it has partnered with Traki, the biggest chain of department stores in Venezuela, which will implement the blockchain-powered point-of-sale device XPOS into all its stores.

Singapore-based Pundi X will have its XPOS available in all of Traki’s 49 stores from across the country.

Traki customers can use the XPOS to pay for the retailer’s products in cryptocurrencies such as Bitcoin, Ether, Binance Coin, DAI, DGX, XEM, KCS, KNC, and Pundi X’s native tokens, the NPXS and NPXSXEM.

Traki has been one of the early adopters of cryptocurrencies in Venezuela, which highlights its commitment to improve the traditional financial system. We hope the XPOS further expands the crypto use cases that customers have come to expect from Traki.” – said Co-founder and CEO of Pundi X, Zac Cheah.

“At Traki, we aspire to offer the most convenient options for our customers, and cryptocurrency has proven to be an effective payment solution. This partnership with Pundi X solidifies our commitment to make cryptocurrency as easy to use as fiat currency in our stores.” – said Chief of Crypto Assets department of Traki, Michael Gomez.

Venezuela is a country which has one of the highest trading volumes when it comes to crypto transactions. This increased use in crypto is due to the country’s hyperinflation and lack of cash options.

“With this recent partnerships with Traki we are beginning the execution of an ambitious plan that includes the introduction of the revolutionary Pundi X Platform, XPOS and XPASS in businesses connected to people’s everyday life, such as food and beverages, supermarkets, pharmacies, tourism, health, among others. Soon we will see more announcements from Pundi X in Venezuela, as well as, key partnerships that will benefit all users and merchants,” stated Gabriel Falcone, representative of Pundi X Venezuela.

Traki has joined the list of other Pundi X –affiliated merchants which are present in over 25 other countries around the world, including Australia, Argentina, Brazil, Colombia, France, Germany, Spain, Singapore, South Korea and more.

The partnership enables Venezuelan residents to purchase food, clothing, and other products sold in Traki by using any of the cryptos supported on XPOS.

“We made the XPOS with the mission of creating real-life use cases for blockchain technology, and this couldn’t be better represented than Traki shoppers paying for their daily needs with cryptocurrency,” added Cheah. “We’re excited to see how this partnership will help give Traki’s customers a better payment experience.”

Featured Image: The Bit Feed

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