Pundi X Labs has a distribution agreement with the Brazilian company BitCapital to provide 1,000 payment terminals – with the acceptance of multiple crypto-currencies as a method of payment – in hundreds of retail outlets in South America.
The collaboration between the two companies was concluded a few weeks after Pundi X moved to South America, in São Paulo. Manticora Capital, a distribution partner and a Colombian investment fund plans to deploy another 1,000 payment terminals in six months in Colombia.
An obvious destination for BitCapital
The popularity of cryptocurrencies is greatly felt in South American countries, while confidence in fiduciary currencies has declined considerably. Virtual currencies are used as a store of value and a more stable trading mode.
Ryan Taylor, CEO of the Dash Group, said that cryptocurrency has gained notoriety in Brazil. More than 200 stores accept Dash as a means of payment . Tens of thousands of Dash digital wallet downloads are made each month.
Zac Cheah, the CEO and co-founder of Pundi X, said:
“In a region that is rapidly gaining a noble reputation for cryptocurrencies, the Brazilian market is a perfect entry point, and merchant demand has confirmed our growth strategy in South America. “
“BitCapital is the ideal partner to begin our debut in Brazil. Not content to be an OTC leader in a global market, they seek to influence banks and provide a new payment solution. “
Simple, fast and convenient
BitCapital tends to provide an infrastructure compatible with cryptocurrencies . The company is developing a payment system that creates transactions between virtual currencies and fiduciary currencies.
Moreover, simple and practical systems such as Pundi X will contribute to the adoption of digital currencies, according to Ricardo Guimaraes Filho.
“Brazil and São Paulo are leading every decision on conventional funds and technology in South America. However, crypto-currencies are unjustifiably late. “
Pundi X’s payment terminals allow you to accept cryptocurrencies in retail stores. XPOS supports Blockchain-based transactions, mobile wallets such as Alipay and WeChat Pay , in addition to payment cards. Pundi X devices are based on Ethereum and NEM.
What do you think of the 1,000 payment terminals with cryptocurrencies brought to Brazil by BitCapital? Comment in the comments section below.