Issuing 300,000 co-branded NFC-enabled physical multi-currency wallet cards
Pundi X, a cryptocurrency point-of-sale (“POS”) solution provider and Coinnest, the fourth largest cryptocurrency exchange platform in Korea, announced a strategic partnership. Coinnest will be the first Korean cryptocurrency exchange to list the PXS token and to launch 300,000 Pundi X Pass cards, the NFC-enabled physical multi-currency (fiat and cryptocurrencies) wallet.
Coinnest has more than 500,000 members registered over a year. It offers the the most extensive selection of cryptocurrencies for trading among all the exchange platforms in Korea, including BTC, BCH, BTG, BCD, ETH, ETC, WTC, HSR, QTUM, NEO, INK, TRON, TSL, ENT, ADA, GAS, MCO, KNC, BT2, BT1 and others. Starting from 17:00 GMT+7 (Seoultime) on February 24, PXS will be available to trade on Coinnest.
The Pundi X PASS card is a physical multi-currency (fiat and cryptocurrencies) wallet. The owner can top up cryptocurrencies in this card through Pundi X mobile app or via the Pundi X POS devices, which are connected to the blockchain platforms. They can use this physical wallet to complete transactions without the need of their mobile phones, laptops or other online devices. The card can serve as a mean to facilitate a smooth onboarding experience for the next billion crypto users, who are not familiar with the current process of acquiring cryptocurrencies.
“Pundi X’s solution allows people who have little or no access to cryptocurrency easily conduct transactions. We are excited to the first exchange platform to introduce Pundi X PASS Card and lower the technical threshold of trading cryptocurrency,” says Xander Kim, CEO of Coinnest.
Pundi X introduced its blockchain-based POS solution with a mission of bringing cryptocurrencies to mainstream adoption. This solution will enable physical store owners to use either cryptocurrency or fiat money to complete transactions on the blockchain. The company aims to solve the last mile challenge of cryptocurrency transactions and bringing cryptocurrency into daily life.
“While the Korean cryptocurrency exchange platforms contribute a significant amount of trading volume, interest in Pundi X POS solution is very high in South Korea. PXS listing and Pundi X POS solution deployment with Coinnest arethe significant steps for us to enter Korean market. This helps Pundi X to accelerate our market penetration,” says Zac Cheah, CEO and Co-founder of Pundi X.
Pundi X recently successfully completed of its public token sale on January 21, 2018. The company reached its hard cap of 35 million USD in less than 90 minutes. It plans to install at least 100,000 Pundi X POS devices over the next three years across all target markets.