From Venezuelan president Nicholas Maduro pushing for the massive adoption of cryptocurrency within his country, other stakeholders within Venezuelan are also stepping up. This time around its megastore operator Traki which has set plans in motion to install Pundi X blockchain-based cash registers. The partnership will see 49 retail outlets of Traki get Pundi X blockchain-based cash registers.
With the Pundi X blockchain point of sale devices, Venezuelans will be joining other shoppers in 25 different countries. Some of the countries include South Korea, Singapore, Spain, Germany, France, Colombia, Brazil, Argentina, and Australia.
Through the XPOS devices, they will have the liberty of paying for their daily purchases in a variety of coins. Coins supported by Pundi X XPOS device include Pundi X tokens NPXSXEM and NPXS, XEM, DAI, Binance Coin, Ether, and Bitcoin.
Although the integration of cryptocurrency into such systems will help Venezuelans avoid the high inflation in fiat currency, because of the installation been on a ground level, the rate of adoption will go up. Moreover, with early adopters like Traki at the forefront, the use cases of crypto will increase. Comments echoed by Zac Cheah, Co-founder, and CEO of Pundi X who said;
“As an early adopter of cryptocurrencies, the integration of XPOS devices into their systems reaffirms Traki’s commitment of improving the traditional financial system. Besides that, the XPOS devices are giving Traki a chance to go further and expand the use case of cryptocurrencies and go beyond their customer’s imagination.”
On the other hand, Michael Gomez, Traki Chief of Crypto Assets department went further echoing Cheah views saying;
“At Traki, we strive to provide our customers with the most convenient payment options, and cryptocurrencies are the most efficient one. Through our partnership with Pundi X, we are solidifying our commitment of making cryptocurrency available for use anywhere fiat currency is a payment option.”
Although it started with President Maduro fronting Petro for use, usage of cryptocurrencies has increased significantly, leading to Venezuela being among countries with the highest volume of crypto transactions. Apart from entering the Venezuelan market through Traki, Pundi X is also in Panama. It recently signed a partnership with Chainzilla.