Blockchain Retail Startup Pundi X Integrates NEM Blockchain

News | November 16, 2017 By:

Blockchain reatail startup Pundi X has successfully integrated the NEM blockchain into its system.

Pundi X aims to make cryptocurrency an enabler of ubiquitous cashless payment environments across South East Asia and beyond. Pundi X POS (Point of Sale) enables shops, cafes and convenience stores to sell cryptocurrency to a broad cross section of general consumers and builds on the success of Pundi-Pundi which is one of Indonesia’s most popular QR code cashless payment apps.

Pundi X recently raised 14,000 ETH ($4 million) in its initial coin offering (ICO) pre-sale. The Pundi X public ICO will commence on November 20.

NEM is a blockchain platform launched in 2015. the NEM blockchain software has been implemented in uses beyond cryptocurrency. It’s best known for being used in a commercial blockchain called Mijin, which is currently being used by financial organizations in Japan and around the world.

With the integration, Pundi X said that every POS device can now be connected to both the ethereum and NEM blockchains, enabling consumers to easily buy or sell cryptocurrencies such as BTS, ETH, XEM, LTC and PXS tokens, using fiat money, bank card, mobile wallet or with a Pundi X Pass.

Pundi X CEO Zac Cheah said that by using NEM’s blockchain solution, they can confirm transactions instantly, which enables them to lower the exchange risk and provide a better user experience. He added that the company will now focus on rapid expansion to new markets. Foundation president Lon Wong stated that they have been working to achieve mass adoption of the NEM protocol through sovereign fiat money issuance, financial settlements, payments, trade finance, stock markets, forex and other applications. He said the Pundi X business matches this goal because it makes cryptocurrencies more accessible for people to use in their daily lives.