Blockchain-based PundiX partnership with BitCapital OTC trading platform distributes 1,000 POS devices in Brazil.
In a move aimed at boosting cryptocurrency adoption in Brazil, PundiX, a distributed ledger technology platform focused on promoting mass adoption of cryptocurrencies, has announced partnerships with BitCapital, Brazil's top OTC virtual currency trading platform, and Mercado Bitcoin, a leading cryptocurrency exchange in the region.
According to the press release dated August 29, 2018, these partnerships will facilitate the distribution of at least 1,000 Pundi XPOS devices to merchants and retail stores in Brazil. The Pundi XPOS device enables cryptocurrency payments at retail outlets across the globe, making it easier for cryptocurrency holders to pay with digital assets on a global scale.
The demand from merchants in Brazil has validated PundiX's expansion strategy into South America. Brazil, with its growing reputation as a center for cryptocurrency adoption, is considered an ideal market for PundiX. The CEO of PundiX, Zac, has stated that the Brazilian market is an excellent arena for spreading PundiX's cryptocurrency gospel in South America.
Ricardo Guimarães Filho, founder of BitCapital, believes the BitCapital-PundiX alliance will eliminate factors hindering crypto adoption in Brazil and South America. BitCapital is currently working on its infrastructure to facilitate seamless crypto-to-fiat transactions, aligning with PundiX's mission to make cryptocurrency payments more accessible.
Brazil and Sao Paulo are leaders in traditional finance and tech in South America, but crypto adoption lags behind due to a lack of crypto-friendly banks. These partnerships aim to address this issue, with BitCapital working towards becoming a crypto-friendly bank, offering infrastructure-as-a-service.
PundiX has been developing strategic alliances with credible businesses globally since its initial coin offering (ICO) in October 2017. On August 19, 2018, PundiX partnered with Manticora Capital to deploy 1,000 XPOS devices in Colombia. The NPXS token, the native token of the PundiX platform, is listed on several cryptocurrency exchanges, including Binance, Latoken, and Hotbit.
As of the current date, the NPXS token is ranked 40th on the Coinmarketcap top 100 cryptos table, with a trading price of $0.002179. The success of these partnerships could potentially propel the NPXS token higher in the rankings, reflecting PundiX's growing influence in the global cryptocurrency market.
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