Digix & Pundi X Integration: DGX Listed on Pundi X Payment Ecosystem
Today, 31 May 2019, Digix has officially announced our partnership with Point of Sales solutions provider, Pundi X. The integration between Digix and Pundi X, involves the listing of DGX onto Pundi X payment ecosystem. This permits users to perform transactions using DGX over XPOS enabled counters.
Digix is the world’s first smart asset company that exploits the perks of blockchain technology for the creation of gold-backed tokens guaranteeing 1 DGX token is backed by 1 gram of investment-grade gold. The secured physical gold are located in vaults out of Singapore and Canada.
Pundi X has created a payment ecosystem to enable the accessibility of digital currencies for people across the globe. With a comprehensive payment ecosystem comprising of XWallet, XPOS and XPASS cards — the integration of Digix and Pundi X focuses mainly on XPASS cards.
Digix customised XPASS cards totalling of 3,000 will be distributed to partners, customers, future event attendees and other customers of Digix. The issuance of the cards enables users to purchase DGX at over 100 merchants globally, not only in Singapore. The list of merchants with point of sales system XPOS can be found here.
“In our philosophy of applying blockchain to dynamically account for the provenance, movement and storage of tradable physical gold, we have seen the possibility of harnessing gold more flexibly as a means of value exchange beyond a traditional asset class. By allowing our digital credits to circulate on XPOS, we intend to showcase practical and useable payment options, with the safety and accountability of blockchain. This process encompasses Digixs spirit of deeper financial inclusivity for future generations,” said Shaun Djie, COO and co-founder of Digix.
“Empowering technology developers to innovate, and businesses to incorporate elements of blockchain, is at the heart of Pundi X’s vision. Aligning with Digix has been a natural choice. Our goal of providing more payment flexibility to merchants aligns with Digix’s vision for greater financial inclusion and asset liquidity. We see our partnership as complementary to furthering Singapore’s smart-city and cashless payment future,” said Zac Cheah, founder and Chief Executive Officer of Pundi X.
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