PundiX Signs UTRUST as Liquidity Clearing Provider for Crypto POS Hardware

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PundiX, the market-leading, blockchain-based Point of Sale (POS) solutions provider, announced on Wednesday a deal with Swiss-based UTRUST to promote cryptocurrency payments in stores and secure them with consumer protection. UTRUST is a leading cryptocurrency payments gateway, implementing consumer-focused cryptocurrency solutions for buying and selling digital currency.

The PundiX POS hardware product is currently in pilot testing and the first units are expected to be shipped to markets including Singapore, Switzerland, and Japan in a few weeks time.

The new deal will see UTRUST purchasing 1,000 units of the POS hardware system while PundiX will deploy UTRUST as a liquidity provider for transactions on its devices as well as for account settlement.

The agreement raises the number of POS hardware units ordered by retail clients, to date, to over 25,000 – a quarter of the way to the company’s goal of selling 100,000 units in their first three years of operation. The NEM Foundation has ordered 20,000 of the total units sold so far.

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CEO and Co-Founder of Pundi X, Zac Cheah said, “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”.

CEO of UTRUST Nuno Correia said, “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.”

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