Blockchain Retail Startup Pundi X Partners With Korean Crypto Exchange Coinnest

Announcements, Blockchain | February 13, 2018 By:

Blockchain retail startup Pundi X has partnered with South Korean crypto exchange Coinnest to issue 300,000 Pundi X Pass cards to their members.

Pundi X is a cryptocurrency point-of-sale (“POS”) solutions provider for retail stores seeking to accept digital currencies. Pundi X POS enables shops, cafes and convenience stores to facilitate cryptocurrency transaction for average consumers. It recently raised around USD $40 million in its PXS initial coin offering (ICO).

The Pundi X Pass card is a physical multi-currency (fiat and cryptocurrencies) wallet. Users can top up cryptocurrencies in this card through Pundi X mobile app or via the Pundi X POS devices, which are connected to blockchain platforms. They can use this physical wallet to complete transactions without the need of their mobile phones, laptops or other online devices.

Coinnest claims to have more than 500,000 members registered over a year. The exchange offers the most extensive selection of cryptocurrencies for trading among all the exchange platforms in South Korea, which includes BTC, BCH, BTG, BCD, ETH, ETC, WTC, HSR, QTUM, NEO, INK, TRON, TSL, ENT, ADA, GAS, MCO, KNC, BT2, BT1 and others.

Under the partnership, Coinnest will offer 300,000 Pundi X Pass cards to its members. Coinnest will be the first Korean cryptocurrency exchange to list the PXS token. The partneship will also enable Korean store owners to accept cryptocurrency for payments and complete transactions on the blockchain.

“Pundi X’s solution allows people who have little or no access to cryptocurrency easily conduct transactions,” said Xander Kim, CEO of Coinnest. “We are excited to the first exchange platform to introduce Pundi X PASS Card and lower the technical threshold of trading cryptocurrency.”

“While the Korean cryptocurrency exchange platforms contribute a significant amount of trading volume, interest in Pundi X POS solution is very high in South Korea,” said Zac Cheah, CEO and Co-founder of Pundi X. “PXS listing and Pundi X POS solution deployment with Coinnest are the significant steps for us to enter the Korean market. This helps Pundi X to accelerate our market penetration.”