Pundi X Brings 2000 Point-Of-Sale Devices To Make Easier Crypto Transactions In Brazil And Colombia
The crypto revolution came to Latin America as well, and shoppers in Brazil and Colombia may soon be able to pay for their groceries in crypto.
BitCapital will introduce crypto POS devices to the Brazilian stores
BitCapital announced that it plans to introduce crypto point-of-sale devices to Brazilian stores. These devices have been produced by Pundi X which is a physical sales provider for shops, cafes and more retailers.
BitCapital which is one of the most essential OTC providers in Brazil said that the payment devices are part of the ongoing efforts to make fiat-crypto transactions as effortless and straightforward as possible.
1000 XPOS sales devices will come to the largest South American market, but it’s not clear how many retailers will adopt them.
“In a region fast gaining a reputation as a center for cryptocurrency to enter, the Brazilian market is an ideal point of entry, and the demand from merchants has validated our expansion strategy into South America,” said Zac Cheah, CEO, and Co-founder of Pundi X.
He continued and explained that “BitCapital is the ideal partner for our debut in Brazil. Not content to be an OTC leader in a market of global significance they are looking to take on banks and deliver a new payments solution.”
Manticore Capital also team up with Pundi X for 1,000 XPOS devices for Colombia
Another event worth mentioning is that recently Pundi X teamed up with Manticore Capital to bring more 1,000 XPOS devices to Colombia in the coming six months.
Ivan Correa, CEO of Manticora Capital, said that the difficult conditions in the local banking and investment have combined and made Colombia a highly dynamic market for cryptos.
The main issue was a lack of opportunity to make easy and quick conversions from fiat to crypto, and the XPOS is the best solution.
Pundi X’s moves show an increased interest in crypto adoption in Central and South America.
The company raised $35 million in an ICO this year. With a current valuation of $209 million, the Pundi X token is the 44th largest cryptocurrency by market capitalization.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.