The Indonesia-based firm, Pundi X, is eyeing the Philippines along with other countries in Asia to launch its point of sale (POS) device. Using the company’s POS will allow retail establishments accept cryptocurrencies as payment.
According to the company, it is planning to launch the Pundi X POS device all over Asia, including the Philippines, in the coming year. It added that using the device will boost the cryptocurrency ecosystem as it will introduce it to more consumers.
With the POS device, Pundi X aims to lower the technical threshold and make purchasing cryptocurrency as easy as buying a bottle of water. The bought crypto can then be stored in a physical card wallet that a user can use to purchase other physical goods or to pay bills.
The Indonesian firm also noted that it held a successful demonstration in the country’s capital, Manila, last May. An organic restaurant food chain based in Hong Kong, Fama Group, agreed to adopt the company’s POS device on the same month.
“Adoption of cryptocurrencies in East Asia is probably the highest in the world, however, there are still few channels for spending digital currency today and this is what we want to change by working with retail outlets such as the forward-thinking Fama Group,” – Mr. Zac Cheah, Co-Founder and CEO, Pundi X
Mr. Cheah added that the company will set up more partnership to “encourage the more widespread use of cryptocurrency in the retail economy over the long term”.
Pundi X is based in Indonesia and has a vision of allowing people to buy cryptocurrency just like how they do with bottled water. With its XPOS, it aims to get retail stores to buy, sell, and accept cryptocurrency that will empower blockchain developers and token holders as this will make cryptos accessible to everyone.
Official website: https://pundix.com/
Source: The Star