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We are excited to announce that MakerDAO’s Dai is the first stablecoin in the Pundi X payment ecosystem.

Through Open Platform, a platform for blockchain developers and business to list their digital assets onto Pundi X’s payment ecosystem, MakerDAO’s DAI can be used to transact across the Pundi X payment network, including the XWallet app, XPASS Card and XPOS device.

As a stablecoin pegged to $1 USD within the Ethereum blockchain using smart contracts, the exchange rate between DAI and USD is always 1:1.

“Having a stablecoin like DAI on our platform has been requested by our community for some time,” said Zac Cheah, Co-Founder and CEO of Pundi X. “We are very pleased to onboard a stablecoin with such an established reputation as DAI to our financial ecosystem.”

Pundi X’s global payment network consists of the XPOS device, the world’s first blockchain-powered point-of-sale system; the XPASS card, a physical NFC-enabled, cross-chain digital asset card to facilitate real-life crypto transactions; and the XWallet app, which allows users to easily manage their different crypto assets, such as BTC, ETH, BNB, DGX, XEM, NPXS, NPXSXEM, QTUM, KNC, KCS and more.

Next month, 50,000 MakerDAO-branded XPASS cards will be available to users. Our partnership with Maker allows for subsidization of the cost of production and distribution of the cards, as well as the XPOS devices, in four countries in Latin America: Brazil, Argentina, Colombia, and Venezuela.

Focusing on these four Latin American countries gives their citizens the opportunity to use cryptocurrencies without worrying about volatility. The use of cryptocurrencies in Venezuela has spiked in the last couple of months, while Argentina is also experiencing a similar situation with its Metro system beginning to accept top-ups with Bitcoin.

“Dai provides an easy way for people in Latin America to escape the devaluing effects of hyperinflation,” said Nadia Alvarez, LatAm Business Development representative at MakerDAO. “By integrating Dai across its global payment network, Pundi X makes it very simple for people — even those unfamiliar with cryptocurrencies — to use Dai and have more control over their finances.”

About MakerDAO

MakerDAO issues Dai, the world’s first decentralized stablecoin on the Ethereum blockchain. Dai eliminates volatility through an autonomous system of smart contracts specifically designed to respond to market dynamics. Since its launch in 2017, Dai has successfully maintained a soft peg to the US Dollar. With a presence on numerous cryptocurrency exchanges, multiple partnerships with global supply chain companies, and agreements with organizations serving non-government agencies, Maker is unlocking the power of the blockchain to deliver on the promise of economic empowerment today. Visit www.makerdao.com.

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