Pundi X Begins New Partnership with UTRUST Crypto Payment System
Pundi X (NPXS) has announced a new partnership with the Swiss-based crypto settlement system, UTRUST, in order to provide a secure offline cryptocurrency payment service.
Pundi X is a blockchain project that has developed physical point-of-sale XPOS devices to allow consumers to purchase multiple cryptocurrencies with fiat instantly, as well as facilitating in-store purchases using cryptocurrencies with participating retail merchants.
Pundi X was the winner of the Binance’s 7th community coin competition. It was rewarded with a free listing in Binance against BTC, ETH and BNB trading pairs.
UTRUST is similar to Paypal for cryptocurrencies. It provides its users with high liquidity, security and advanced buyer protection services. This partnership represents a huge milestone for both parties, as Pundi X’s physical multi-asset POS devices become powered by UTRUST’s leading offline transaction settlement and buyer protection capabilities to make transacting with cryptocurrencies safe, fast and convenient.
Nuno Correia, the CEO of UTRUST said,
“UTRUST has always been committed to enabling the use of fast, easy, and secure cryptocurrency payments. To partner with Pundi X and use its XPOS technology will help us immeasurably in achieving this goal”.
According to the agreement signed by the two companies, UTRUST will purchase 1,000 of Pundi X’s POS machines and in return, Pundi X will adopt UTRUST’s payment protection and settlement services across all operational devices.
At this stage, the company has secured over 25,000 orders for their instore crypto payment machines, which means they’re already 25% of the way towards reaching their 3-year sales target of 100,000 devices.
CEO and co-founder of Pundi X, Zac Cheah said,
“This is a major step for furthering the mass adoption of cryptocurrencies, which despite having taken the world by storm, still remain outside the engine room of the global economy in consumer spending,”
In the coming weeks, Pundi X is expected to start deploying manufactured POS devices to Switzerland, Singapore, and Japan. For now, it is just deploying the prototype machines.
Now with UTRUST along with Pundi X, these XPOS devices will have the transaction capabilities to make purchasing with cryptocurrencies infinitely simpler and will reduce the barrier towards mass market adoption.
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