Dubai Approves The Launch Of XPOS By Pundi X And Ebooc
Pundi X can now launch their blockchain-driven point-of-sale (POS) technology in the UAE after receiving accreditation from the relevant local oversight authority. This week, the Telecommunications Regulatory Authority (TRA) in the UAE announced that it has issued Pundi X with a Telecom Equipment Registration Certificate.
In addition, the TRA also approved the XPOS by certifying the pioneering fintech and loyalty company in the UAE, Ebooc Fintech & Loyalty Labs, as well as Digital Force Pro Information Technologies (DFP). Zac Cheah, the CEO, and co-founder of Pundi X remarked that their XPOS is the first of its kind to get approval from the TRA. He added that the certification will allow them to increase the XPOS device shipments to Ebooc.
Ebooc, on the other hand, will begin integration NextGen technology into the XPOS devices such that they provide a future-proof POS payment solution for clients. Abdalla Al Shamsi, the CEO of DFP and co-founder of Ebooc, said that he expects XPOS to be useful to various sectors of the economy because of its remarkable speeds, security, and ease-of-use.
The two firms, Pundi X and Ebooc, will jointly implement XPOS terminals and XPASS cards throughout Dubai so that everyone in the city has access to blockchain-based transaction payments. XPOS will enable merchants to accept cryptocurrency payments whereas XPASS cards will allow consumers to store the cryptocurrencies to be used at XPOS terminals.
Sunil Malhotra, a co-founder of Ebooc, said that the enhanced XPOS devices made by their company will signify a huge achievement in the Dubai government’s vision of mainstreaming the application of blockchain technology to improve efficacy in service delivery. He also noted that the introduction of the XPOs will be useful to consumers, businesses and even governments.
Dubai leads in Blockchain Adoption
According to Cheah, the Dubai government became the first authority in the world to approve a means for its residents to make cryptocurrency payments by approving the XPOS devices. He further stated that such a development is a major achievement for blockchain adoption.
In conclusion, Cheah mentioned that the introduction of virtual currency payments in the most popular city in the Middle East is a monumental milestone for the application of blockchain technology in real-life situations. He finished by saying that Dubai has set a precedent that other leading cities in the world should look to emulate.