We had a very busy April, a month that has seen us achieve some key business milestones. The Pundi X INSIDER newsletter is here to catch you up on all the things we have been up to.
The NEM XPOS
We unveiled a new branch of our world-leading “Point of Sale” technology, the X POS, with our partners at the NEM Foundation. Some 20,000 new NEM XPOS devices will run on the NEM blockchain and allow consumers and retailers to conduct NEM-based cryptocurrency transactions.
NEM, as you know, are behind XEM, the cryptocurrency with a market capitalization of more than $3.5-billion and are a leading global cryptocurrency especially in the burgeoning markets of Korea and Japan. Tokens confirmed to be listed on this brand new NEM XPOS device are XEM, PXSXEM, XAR and XPX.
This month we added the support of ZEC transaction for XPOS devices. Now there are 10 cryptocurrencies available, including BTC, ETH, LTC, XEM, XLM, QTUM, ACT, DGD, ZEC, and NPXS, to enables consumers to conduct cryptocurrencies payment and exchange transactions in physical stores.
New listings and partnerships
On April 12, Pundi’s NPXS tokens went live on the Bancor Protocol.
Holders of the Bancor Network Token (BNT) and any other token (including ETH) on the Bancor Network are able to convert their tokens instantly for NPXS tokens. Similarly NPXS holders can freely convert their NPXS tokens to BNT, ETH and any integrated token in the Bancor network. The new token relay will increase the liquidity of NPXS and stabilize its price.
NPXS was also listed by two Korean exchanges, CoinRail Korea and Cashierest this month. Coinbene recently add NPXS/USDT trading pair.
A buy-back of NPXS tokens
We also unveiled a vote of confidence in the company in the form of a buy-back of NPXS tokens following the exciting partnership with NEM and unexpectedly high demand for our devices from the global retail market.
The first two stages of the buy-back, in tranches of 200 ETH (Ethereum-equivalent) and a partial second tranche of 100 ETH, have already been executed.
The total buy-back will be 2000 ETH-equivalent. The tokens of the buy-back will be dedicated to a Partnership Reserve Fund (PRF) designed to expedite our international rollout with strategic business relationships, new advisors, community members, merchants, exchanges, banks, and technical partners among others. The fund will be used to subsidize the roll-out of XPOS devices, cover transaction fees, marketing costs, listing costs, incentive bonuses and even release the unlocked token to new users and merchants.
Roadmap and Advisor updated
An updated roadmap outlines the specified number of the Pundi X POS device and card delivery based on the partnerships that we are currently in talks with. As our goal is to deliver 100,000 devices in the next three years, we appointed new advisors that have local expertise and network to help us to achieve our business goals. They are Lon Wong, former President, NEM.io Foundation Ltd and Founder and CEO, Dragonfly Fintech Pte Ltd; Jeffrey Jones, Chairman of Board of Directors AMCHAM Korea, Board of Directors General Motors Korea, Chairman McDonalds House Charity Korea and Partner of Kim & Chang; Kenji Sasaki, Co-founder of Cardano, CEO of Next Chymia Consulting, Corporate Officer of Emurgo.
Conferences and meetups
Together with IBM, Bank of Indonesia, Bank Mandiri and 500 Startups, Constantin (Kiki) Papadimitriou, President of Pundi X has been invited to speak in a panel at the Euromoney Indonesia Financing and Investment Forum 2018 on April 4 in Grand Hyatt Jakarta. The topic was about ‘Can Indonesia embrace blockchain technology and how are traditional financial players responding to the challenge from the fintech?’
Constantin also visited the Ministry of Industrial Affairs with members from Indonesian Blockchain Association to discuss how to support Indonesian government’s Industry 4.0 initiative.
Pundi X co-founder and CFO Danny Lim and Vice President Peko Wan addressed in three panels of the Global Inclusive Blockchain Conference at the Singapore University of Social Sciences.
While there we also met up with our friends at Qtum and Cryptogrinders.
Next month our CEO and co-founder Zac Cheah will demonstrate Pundi X technology at Consensus 2018 in New York, the world’s largest blockchain technology summit.
Our co-founder and company President Constantin Papadimitriou was featured in a Forbes Asia on the four industries poised for disruption by blockchain in Indonesia: “What Pundi X does is to solve what is perhaps the remaining fundamental challenge of digital and blockchain-based transactions: making them accessible to mainstream consumers”.
Pundi X POS device was also featured in the April edition of the Nilson Report, the world’s leading source for news and information about the card and mobile payment industries. Subscribers include top executives among card issuers and acquirers, venture capitalists, stock analysts, investment bankers, technology vendors, card industry product and service providers, and government agencies.
More media coverage and video reviews as follows:
‘Pundi X Announces Token Buyback to Fuel Future Partnerships’ by Blockchain News
‘World’s first NEM based point-of-sale terminal is launched by Pundi X’ by Ambcrypto
‘In Studio with Danny Lim, CFO & Co-Founder Pundi X’ by CryptoGrinders
‘Monaco vs TenX vs Pundi X — The BEST is’ by Crypto Love
‘Pundi X Review: What NPXS Is’ by BitBoy & Hodl
‘PUNDI X full review’ by CRYPTOFIT
Thank you for covering Pundi X!
Pundi X enters the top 100
And finally, this month saw Pundi X enter the world’s top 100 companies by market capitalization, according to CoinMarketCap.com.
Our CEO and co-founder, Zac, addressed the rise in the company’s value in a blog post:
“It’s good to see a rise in value but our core focus will remain on delivering real products to real businesses. I hope this is a motto we all believe in.
“We are finding that the big idea behind our blockchain-based point of sale solution with XPOS devices and XPASS cards — to bring cryptocurrencies to real stores and the 99 per cent of consumers yet to adopt them — is being well received by a big market in global retail.”
This is quite a long report for this month. We hope you enjoy reading it. See you next month!