Hello and welcome to another roundup of our activities for the month. July saw our presence in Colombia, Hong Kong, Indonesia, Korea, Switzerland, Taipei, and Turkey. We work relentlessly to spread the awareness of the Pundi X project and meet our partners.
The month’s biggest news was our XPOS device had its first run in the field before shipping and passed with flying colors.
The XPOS debuts in Hong Kong
Much of July was given over to pilot testing of our XPOS devices in the field ahead of global deployment.
One of the first places to road test them were four busy Hong Kong restaurants.
The FAMA Group is behind four of the city’s locally-sourced modern chinese cuisine restaurants.
We officially launched Pundi X’s Hong Kong presence with a press conference at the Hive Cafe before moving onto an evening VIP event with dinner and drinks at SOHOFAMA.
In all four restaurants during our three day trial, XPASS card holders can enjoy drinks and meals paying in BTC, NPXS, and ADI with XPOS.
In these three days, we’ve issued around 120 XPASS cards and generated 89 transactions in total. The activation rate is more than 70%.
For next step, we will upgrade the XPOS interface and conduct training for the merchants in mid August and onward.
For transparency, we also published the pricing for purchasing XPOS and NPXS utility for XPOS transaction. We will start announcing the number of NPXS utilized tokens we are able take out from the total supply permanently.
Partnership with Korean listed company, UBIVELOX
At meeting at our R&D facility in Shenzhen with representatives from UBIVELOX, we’ve announced a partnership to support the introduction of our XPOS and X PASS cards into the Korean market.
UBIVELOX is a KRX-listed public company and global leader in the development of smart cards and the world’s sixth-largest developer of smart card technology.
Under the deal they will use their considerable networks among Korean businesses and expertise in the field of payments to assist with the deployment and development of our XPASS and XPOS cards in South Korea.
That market, of course, is not just a global hub for cryptocurrency investment but one of the key launch markets for our XPOS device.
XPOS detail specs revealed
This month we unveiled some crucial detail about the new version of the XPOS for international shipping that over 5,000 units are making its way to merchants and partners.
Here’s a preview:
“By combining highly sophisticated multi-card readers, secure encryption standards, and cryptocurrency features, Pundi X POS delivers an uncompromising performance while staying thin and light.”
BNB, WAN listed on the XPOS
After thorough discussion with the Binance team and integration, we’ve confirmed that BNB, the native token that powers the world’s largest cryptocurrency exchange, will list on the first batch of the XPOS device for shipping.
CZ, CEO and co-founder of Binance, also had the chance to take the XPOS for a spin and gave it a positive review.
Earlier in the month the CEO of Wanchain, Jack Lu, was also in Jakarta on stage with Pundi X President Constantin Papidimitriou to announce that consumers will also be able to pay for goods and services in WAN after it lists on the XPOS.
Sharpen focus on blockchain
Following the growth of our R&D facility and larger-than-expected demand for the XPOS in global retail we announced an important restructuring to our business this month.
Pundi-Pundi, one of Indonesia’s most popular QR-code based offline cashless payments apps, will now be handed over to our fiat partner E2Pay and will be known as m-Bayar (from the Indonesian ‘to pay’) henceforth. The app, which preceded our focus on a blockchain-based point of sales system has been downloaded by more than 100,000 consumers in Jakarta alone.
The combination brings benefits to both E2Pay and Pundi X which includes, for us, the long-term use of E2Pay’s recently awarded Indonesian e-money licence for crypto-to-fiat conversion in Indonesian. As the President of both companies, Constantin, said: “Pundi X and E2Pay will each serve different market segments with different appetites for cashless payment solutions, while ultimately both working as separate but complementary operations dedicated to making financial technology more accessible and beneficial”.
Listing on the new exchange
Starting from July 27, NPXS is available to trade on OKCoin Korea. The trading pair is NPXS/KRW.
To celebrate the listing, first 1,000 OKCoin Korea new users who deposit NPXS will get bonus of 1,500 NPXS and 2,000 NPXSXEM tokens. The qualified 1,000 winners will get notification to fill in more detail information to claim the bonus, including a NEM wallet address.
Also, we finished the award distribution of OKEX community building event to over 850 qualified participants as planned. Thank you for your kind support. We hope to host another community event to get NPXS on more exchanges!
It’s been a big month in the media for Pundi X; we’ve been featured in major newspapers and news sites in several countries around the world.
Highlights include the following:
- The Philippine Daily Inquirer notes our growing interest in the local market for cashless payments: http://business.inquirer.net/254650/startup-aims-make-ubiquitous-use-virtual-money-payments-ph
- Inc lists Pundi X as one of the three companies changing retail in south-east Asia http://inc-asean.com/editor-picks/beyond-amazon-go-3-companies-driving-the-future-of-retail-in-asia/
- Yahoo Singapore lists Pundi X as a product with a “killer” tagline https://sg.news.yahoo.com/more-just-tech-blockchain-crypto-platform-needs-killer-073036064.html
- CNN Turkey covers our plans for international expansion https://www.cnnturk.com/yurttan-haberler/istanbul/kripto-para-aliminda-pos-cihazi-devri
- Blockchain Partners Summit (Seoul).
- The Asia Blockchain Summit (Taipei)
- RISE (Hong Kong)
Pundi X meetups around the world
That’s all for July from the Pundi X team. Keep your eyes on our official blog for all the latest news and developments in August.
Until then, see you next month.