South Africa Set To Welcome Crypto-Assets To Its Native Retail Market Thanks To PundiX And DoshEX
As things stand, there currently exist millions of individuals within South Africa who still do not have access to basic banking services or even a tangible financial network that can allow them to facilitate value transfers (using older technologies such as money orders etc). Thus, to fill out this huge market void, DoshEX in conjunction with Pundi X have come together to bring cryptocurrencies to the South African retail market.
More On The Subject Matter
As per an all-new joint press release issued by the aforementioned firms recently, they are looking to introduce blockchain-based XPOS point-of-sale-systems as well as XPASS crypto cards within the S.African retail market. To be even more specific, PundiX will be giving out crypto loaded XPASS cards to its clients so as to help them facilitate everyday payments and monetary transactions without the need of a localized bank account.
Additionally, it should also be pointed out that this new technology will be made available to the public across a host of different locations — such as kiosks and retail stores — in the near future.
In regards to the matter, DoshEX CEO Alex de Bruyn was quoted as saying:
“Our objective is to rapidly build South Africa’s first point-of-sale cryptocurrency network. This is why we partnered with PundiX.”
Lastly, we also need to point out that this is not the first time PundiX has ventured into the international crypto retail sector. For example, the Singapore-based company has already introduced its blockchain-based financial services to more than 25 countries to date.
Other Key Details Worth Pointing Out
For those of our readers who might not be aware, Pundi X’s XPOS/XPASS network has been devised to help the underbanked by providing them with an easy, affordable way to facilitate value transfers in a simple, streamlined manner.
Talking about the potential of this new technology, Zac Cheah, CEO and Co-founder of PundiX Labs, stated that a number of established organizations were already making use of the firm’s native XPOS network to keep an accurate record of their daily transactions.
Not only that, he then went on to say:
“Now, an XPASS card loaded with crypto enables ordinary people to embrace the crypto-future, including millions of unbanked South Africans. Our partnership with DoshEx enables us to tap into the early-adopter market.”
In rounding off this article, it should be mentioned that as blockchain technology continues to redefine today’s existing monetary systems, DoshEx’s latest partnership with PundiX could help usher in a new era of financial inclusion all across South Africa — something that established institutions have not been able to do up until now.