Technological innovative has continued to shape the modern world. Most notably in recent years, blockchain technology is continually being utilised to great effect and disrupting numerous industries. In the grand scheme of things, blockchain technology is in early stages of adoption and the potential is almost limitless. However, there have been a number of drawbacks and uncertainty that has hindered a more wide scale adoption of the technology.
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Two blockchain giants looking to bring blockchain to the forefront of the modern world are UTRUST and Pundi X. These two major players have joined forces to enable physical retailers to accept cryptocurrency payments. This is a massive step for two of the world’s leading digital payment platforms, who have formed a strategic partnership to build an offline cryptocurrency payment platform for mainstream adoption.
UTRUST is proud to offer the world’s first payment platform for cryptocurrencies featuring Buyer Protection and Instant Payments. The company is building a global PayPal-like payment platform that is powered by extensive cryptocurrency support. Their mission is to provide a convenient payment platform made simple and safe. With a vision to ensure large-scale adoption and user acceptance.
About Pundi X
Pundi X have established themselves as a market leader as a blockchain-based point-of-sale (POS) solution provider. Their POS solution provider is currently in pilot production and will begin shipping to markets including Singapore, Switzerland, and Japan in the coming weeks. From there, it will enable merchants to conduct offline cryptocurrency transactions, as Pundi X and UTRUST sign a deal to promote cryptocurrency payments in stores and secure them with consumer protection. Pundi X is looking to make cryptocurrency accessible to everyone, by empowering blockchain developers and token holders to sell cryptocurrency and services at any physical store in the world.
Based on the details of the deal, UTRUST will commit to acquiring 1,000 units of Pundi’s XPOS technology, a point-of-sales device that allows retailers to transact in, buy and sell multiple cryptocurrencies.
In turn, Pundi X will utilise UTRUST as a liquidity provider and use its technology for account settlements. For the first time, UTRUST will offer a payment platform to implement consumer-focused cryptocurrency solutions, including buying and selling cryptocurrencies.
This groundbreaking deal with UTRUST takes the number of units of Pundi X technology that have been ordered for use by clients in global retail to over 25,000, or over one-quarter of the company’s three-year sales target of 100,000 devices.
UTRUST also boasts about having developed a game-changing purchase protection mechanism that can ensure that cryptocurrencies are transected safely and with transparency as a focus. As a result, transactions can take place in a secure environment that develops a trusting relationship between buyer and seller.
Zac Cheah the CEO and co-founder of Pundi X offered these works on the partnership:
“This is a major step for furthering the mass adoption of cryptocurrencies, which despite having taken the world by storm, still remain outside the engine room of the global economy in consumer spending,”
“Partnering with UTRUST as our merchant payment settlement gateway is a substantial addition to Pundi’s XPOS and grants us a trusted provider for liquidity, but also for customer security”.
Nuno Correia, the CEO of UTRUST offered his thoughts on the partnership:
“We see here today in Singapore a partnership of two leading blockchain-based cryptocurrency payment projects with benefits flowing to the entire cryptocurrency ecosystem. UTRUST has always been committed to enabling the use of fast, easy, and secure cryptocurrency payments. To partner with Pundi X and use its XPOS technology will help us immeasurably in achieving this goal”.