Partnership to co-develop Pundi X ecosystem and support deployment of Pundi X POS in Korea
Pundi X has signed a deployment and distribution deal to bring its technology to Korea with the support of UBIVELOX (089850) the KRX-listed leading technology developer ranked as the sixth-largest developer of smart cards in the world.
Through a strategic alliance signed at Pundi X’s R&D centre in Shenzhen on Thursday, UBIVELOX, which is a leading world innovator in smart cards, security and communications devices, will co-develop Pundi X ecosystem and support the deployment of the Pundi X POS in Korea.
Those plans form part of a broader business partnership including the development of options for the distribution of our multiple-cryptocurrency enabled XPASS cards, leveraging UBIVELOX’s deep connections with Korean businesses.
The agreement to support our blockchain-based point of sales (“POS”) device represents a furthering of UBIVELOX’s move into blockchain technology after establishing itself as a global leader in banking, transportation and telecommunications technology over two decades.
The company has filed three patents relating to blockchains along with cryptocurrency payment system and payment method using cryptocurrency (in Korea and China)
Jae Kwan Kim, Senior Vice President of UBIVELOX who led the development of the business affiliation with Pundi X said, “The idea behind Pundi X — to make cryptocurrencies easy to use in real life — can be realized more quickly and safely by combining with our smart card technology, patents, and products. Through this, it is expected that the company will play a leading role for global cryptocurrency payment market in the future.”
Zac, our CEO and co-founder, said: “To have a partner of UBIVELOX’s pedigree in the development of smart card and security solutions is a major boost to Pundi X’s already fast-paced global rollout.
“UBIVELOX has shown itself to be an international innovator in the fields of smart card, mobile and blockchain developments. To have them collaborating with us on the rollout of the XPASS but also to secure important support for its deployment will help our deployment considerably, not just in Korea but worldwide”.
UBIVELOX has been supplying smart card chips that are competitive in finance, telecommunication, transportation, public and various fields based on its smart card technology. The company’s development and supply of smart card integration solutions to financial institutions was a market first for domestic technology, and demonstrates its strong enterprise position.
The world’s sixth-largest manufacturer of smart card technology, Ubivelox Inc also engages in the mobile convergence businesses internationally. The company offers contact cards, dual-interface cards, embedded secure element products, subscriber identity module (SIM) cards, and others. It also provides mobile payment solutions, mobile wallet solutions, and e-coupons. In addition, the company offers various platforms, including Personalization Management System, a data preparation process software; Personalization Authentication System, a small issuance system to generate and personalize products desired by user’s need; Smart Card Management System; Trusted Service Manager, an integrated service platform; and ePurse solution, a pre-paid solution. Further, it provides M2M SIM, a solution that enables secure Internet of Things using encrypted communication methods, including 3G, NFC, BLE, WiFi, and RFID for automotive, metering, remote management, and industrial data collection applications. The company’s products are used in banking and finance, telecommunication, and transportation fields, as well as national ID cards. Ubivelox Inc was founded in 2000 and is based in Seoul, South Korea. For more information, please visit www.ubivelox.com/