PundiX, the distributed ledger technology platform focused on making it as easy as possible for cryptocurrency holders to pay with digital assets on a vast array of merchant sites across the globe, has allied with Brazil’s top over-the-counter (OTC) virtual currency trading platform, BitCapital, to make the Pundi XPOS device available to 1,000 retail outlets in the region, according to a news release by the team on August 29, 2018.
PundiX Fostering Mass Cryptoassets Adoption
As stated in the PundiX press release, with the new partnership deal with BitCapital, at least 1,000 POS devices would be distributed by the OTC trading platform to various merchants and retail stores across crypto-friendly Brazil.
Presently, BitCapital is one of Brazil’s largest over-the-counter cryptocurrency trading platforms and its working on its infrastructure to facilitate frictionless crypto-to-fiat-transactions.
Brazil a Fertile Ground for Cryptos?
The CEO and Co-founder of PundiX, Zac noted that Brazil’s vibrant cryptospace would serve as an excellent arena for the platform to keep spreading its cryptocurrency gospel in South America. In his words:
“In a region fast gaining a reputation as a centre for cryptocurrency to enter, the Brazillian market is an ideal point of entry and the demand from merchants has validated our expansion strategy into South America.”
The BitCapital team claims to be working with significant businesses in Brazil, in a bid to become a crypto-friendly bank, offering infrastructure-as-a-service to users.
Founder of BitCapital, Ricardo Guimarães Filho reiterated that the BitCapital-PundiX alliance would eliminate all negative factors hindering crypto adoption in Brazil and South America as a whole.
“Brazil and Sao Paulo lead on every metric when it comes to traditional finance and tech in South America. Yet, crypto lags unaccountably behind,” said Filho, adding, “We think we know why: the answer is a lack of crypto-friendly banks that facilitate adoption.”
Since launching its initial coin offering (ICO) in October 2017, the PundiX project has hit the ground running, developing strategic alliances with credible businesses across the globe.
As previously reported by Blockchain Reporter, on August 19, 2018, PundiX inked a strategic partnership deal with Manticora Capital to deploy 1,000 XPOS devices in Colombia, to enable retailers to accept cryptocurrency payments.
At current PundiX NPXS token is ranked 40th on the Coinmarketcap top 100 cryptos table and its trading at $0.002179.
NPXS is listed on several cryptocurrency exchanges including Binance, Latoken, Hotbit, and others.