Indonesia’s Pundi X, a global blockchain firm, announced via a blog post on August 21 regarding the largest chain of department stores in Venezuela, Traki, would be accepting crypto payments across 49 of its stores around the country.
The blog authored by Pundi X’s writers commenced by stating that the chain store would be the first of its kind to implement the XPOS, the blockchain-power-point of sales device. Through this implementation, Traki customers can now make transactions via various cryptocurrencies, including Pundi X’s own coins the NPXS and NPXSXEM. The blog also highlighted that all transaction fees will be paid in NPXS and NPXSXEM.
The blog further stated that Venezuela is among the countries with a high trade volume for crypto assets. With factors such as hyperinflation and lack of cash, cryptocurrency is becoming a need of the hour for commercial trade and protecting the value of liquid assets.
Gabriel Falcone, a representative of Pundi X, Venezuela, also expressed his views with respect to the partnership-
“With this recent partnership with Traki, we are beginning the execution of an ambitious plan that includes the introduction of the revolutionary Pundi X Platform, XPOS, and XPASS in businesses connected to people’s everyday life, such as food and beverages, supermarkets, pharmacies, tourism, health, among others. Soon we will see more announcements from Pundi X in Venezuela, as well as, key partnerships that will benefit all users and merchants.”
The blog further added by stating that Traki is now part of an ecosystem operating across 25 countries. This aforementioned ecosystem has 300,000 registered users. The XWallet is Pundi X’s mobile crypto wallet that enables the customer to pay for even basic necessities via cryptocurrency.
The blog concluded by addressing the fact that this partnership is the latest of many such alliances, Traki has made. The departmental store giant is regarded as the earliest adopters of blockchain and cryptocurrency in the country. This development paves the way for more such blockchain adoptions in Venezuela.
In April, Pundi X announced their partnership with South African digital asset exchange, DoshEx. Pundi X said that the purpose of this partnership was to bring cryptocurrencies to retailers and local consumers. Pundi X also deployed XPOS in South Africa, enabling the user in specific regions to make transactions with cryptocurrencies.