Dear Pundians, Thank you for joining our Q3 2022 Progress Report. For those who couldn’t join it live, you can watch the video version by visiting our YouTube Channel. XPOS and R&D development Lightning network support More and more people are having Bitcoin or wishing to own Bitcoin. One of the breakthrough in this quarter is to integrate the Bitcoin […]
Thank you for joining our Q3 2022 Progress Report. For those who couldn’t join it live, you can watch the video version by visiting our YouTube Channel.
XPOS and R&D development
Lightning network support
More and more people are having Bitcoin or wishing to own Bitcoin. One of the breakthrough in this quarter is to integrate the Bitcoin Lightning Network on XPOS.
With this integration, the XPOS merchants can
- Accept Bitcoin payments from private wallets supporting the lightning network.
- Sell Bitcoin to customers who don’t have XWallet.
- Allow customers to ask for a change in BTC.
We believe this integration will increase adoption and allow XPOS to support more wallets.
Currently, we are testing several bitcoin wallets. To provide a smooth and fast transaction experience, we need to establish direct communication with the wallet providers who have established nodes. We are grateful that one of the popular Bitcoin wallets, Muum, is now working with us on this. We will continue testing other popular bitcoin wallets. Our goal is to support at least 3 popular Bitcoin wallets before pushing this update to our merchants. Stay tuned.
XPOS distribution in South Africa
In Q3, we signed a distributor agreement in South Africa. They are preparing the groundwork to launch XPOS in South Africa, including a new website (www.pundixsa.co.za) dedicated to South African merchants.
Our distributor in South Africa, Daniel Katz, shared that according to statistics, 4 million out of the total population of 60 million in South Africa are using crypto. The plan for XPOS distribution there is to acquire adoption in retail stores.
For XPOS Exchange Store, currently, we have about 14 stores in Türkiye. Our distributor Ovo will continue its expansion even beyond Türkiye. We look forward to hearing great news from Ovo.
DApp on XPOS
Decentralized App powered by Function X, p(x)Change (previously named XChange/De-XPOS), p(x)Card, hardware wallet card, and p(x)Scan had been open for the public to test in Q3. This indicates that, with hosting DApp on the XPOS platform, merchants can choose their preferred way to accept or sell cryptocurrency. For example, they can connect their own wallet on p(x)Change and process the crypto transaction without having Pundi X as their custodian. They can accept or sell crypto directly from their own blockchain wallets without converting it into stablecoins. This is the feature that some of our merchants are asking for.
We have received your testing feedback, and the Function X developers will make changes to the UI and fix bugs. We hope that in Q4 2022 or no later than early Q1 2023, the merchants will be able to use it.
On the p(x)Card side, this is the product of the joint development with Infineon. It’s like taking XPASS cards to another level which allows Pundi X to capture the trend of Web3 payment market. Users will be able to have their own private key with NFTs supported in the p(x)Card. Infineon also supports us in showcasing the proof of concept in their marketing event.
Here is the recap of the event in Q3 at Identity Week Asia.
Statistics about XPOS transactions in Q3
Important feature update for XPOS
We are currently testing the Lightning Network on XPOS, and when we are done testing, a new version will be sent to all XPOS devices for merchants. This upgrade will bring you Crypto Pro, the evolved version of Onchain payment. The aim is to support more 3rd party blockchain wallets, such as MetaMask, Trust wallet, and all other wallets that support Ethereum, Binance Smart Chain, and Lightning Network.
We want the merchants to use one device which is XPOS and accept all. Cashier Pro will support all the 3rd party wallets that we integrate. Stay tuned for more integration in the future.
Token Listing update
In Q3 2022, we are grateful to have support from leading exchanges.
- $PUNDIX-$USD trading pair available on Coinbase
- $PUNDIX is available on Binance Earn
- Binance also adds $PUNDIX on Cross Margin and $PUNDIX-$BUSD pair on Isolated Margin
- Huobi listed the $PUNDIX-$USDT trading pair
2.2 billion $PURSE burnt
Less than 300 million $PURSE available in the Pancake swap LP re-staking farm
Redeem PURSE for Google Play and Apple Store gift cards: 2,500 $PURSE = $US25
For those who have $PURSE, don’t forget to stake to claim BDL
Staking $PURSE to claim BDL is also available. $PURSE holders will get more tokens by participating in staking and becoming liquidity providers.
All the information is available on www.pursetoken.com.
Q & A:
- Are we gonna have more developers coming to build on XPOS their own dapps? I recall you mentioned XPOS is web3 now that’s why asking.
A: We are hiring new developers, and expanding our office. If anyone has good recommendations for talents, please let us know. We are continuously developing XPOS, one of which is p(x)Change. We hope more transaction-related services can be deployed on p(x)Change. One of the use cases we can think of is loyalty point tokenization. We are actively exploring the possibilities with both businesses and banks.
Upcoming in Q4 2022
Thank you for joining the session, please stay healthy and safe, and we will see you in the Q4 progress report!
Pundi X Team