Product

Regulatory Compliance: an essential first step in the rollout of Pundi X POS devices

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Dear Pundians,

Recently, we have seen media headlines saying: ‘Pundi X installs crypto point-of-sale devices despite regulations’ and ‘deployment of POS devices would be completed regardless of regulatory developments’.

These ideas are misleading because Regulatory Compliance is an essential first step for the successful market introduction of Pundi X POS (Point-of-Sale) devices and the successful evolution of the blockchain as a whole.

I want to take this opportunity to restate the global roll out procedure for our products, services and solutions. I also want to explain how the Pundi X team is working diligently to comply with local regulations in the markets that we enter.

As a startup company, we are developing blockchain-based technology that will revolutionize the way consumers handle daily transactions. In the very near future, merchants, and consumers will be able to conduct cryptocurrency transactions quickly and easily using a Pundi X POS terminal. However, while the new XPOS devices get ready to roll off the production line for pilot testing, our team is already busy applying for licenses and working with partners in each market to ensure that we comply with local regulations.

Pundi X POS devices have many capabilities — including making crypto payments; converting crypto-for-fiat currency; and buying and selling cryptocurrencies — all of these features can be activated according to different regulations as they are applied in different jurisdictions.

At Pundi X, we believe that blockchain technology can democratize the way people carry out transactions in the future. This is a technology that can benefit the average consumers and help the unbanked population to more easily access financial services. With our technology, products and services, blockchain technology can come much closer to mass adoption and boost levels of financial inclusion.

That’s why we are working together with governments, financial organizations, and businesses to make it happen.

Sincerely,

David Ben Kay
Chief Legal Counsel,
Pundi X