The largest department store of Venezuela, which is called Traki, has recently announced that it would start to accept Bitcoin payments via blockchain-enabled cash registers. The store has 49 retail outlets in the country and it has announced that it will use PundiX’s technology.
PundiX provides a point of sale device called XPOS, which is used to accept crypto-based payments. At the moment, the product is being offered in 30 countries and the company claims that it will have sold over 100,000 devices until 2021 if the sales continue as expected.
The main goal of the company is to help in the mission of making cryptocurrencies become something common and widespread. PundiX also offers other products such as the XPASS, which is a crypto-based debit card, and Xwallet.
Zac Cheah, the CEO of PundiX, affirmed that the company has always been focused on creating powerful use cases for the blockchain technology and that Traki will help them to bring the technology to Venezuela.
In fact, Venezuela already has several crypto users. Around 10% of the 300,000 PundiX wallet users are based in the country, so it makes a lot of sense to see Traki investing in this technology, as there is probably a huge demand for it because of the country’s high inflation and lack of liquidity. The most recent reports affirm that the yearly inflation has surpassed 1,000,000% in the country.