Pundi X

What is Pundi X (PUNDIX)?

Pundi X attempts to transform the realm of retail payments by connecting multiple blockchain networks and allowing users to transact cryptocurrency in a seamless, borderless manner.

With a vision of providing a global payment ecosystem beyond fiat, Pundi X has partnered with payment companies, retailers, and even governments to deploy their blockchain-based point-of-sale (POS) solution.

Trademarked as XPOS, this solution helps emerging markets stabilize their payment ecosystems amid hyperinflation and digitizes and modernizes the payment infrastructures of developed markets. XPOS has already seen significant adoption, with its devices being used in over 30 countries.

Likened to the 7-Eleven of digital currencies, Pundi X has a vision of enabling consumers to buy and use digital currencies anytime, anywhere.

When was Pundi X Launched?

The project was launched in 2017 and ran an ICO (Initial Coin Offering) in 2018, positioning itself as the world’s first blockchain-based point-of-sale solution.

The success of this ICO allowed Pundi X the platform from which to develop its product portfolio, which currently features XPOS, XPass, and XWallet. The firm behind Pundi X is headquartered in Singapore. But has offices in London, São Paulo, Jakarta, Seoul, Tokyo, Shenzhen, and Taipei.

Who are the Founders of Pundi X?

Pundi X was co-founded by the project’s CEO, Zac Cheah, and CTO Pitt Huang. Cheah has an MSc from the KTH Royal Institute of Technology, Sweden, and is the former W3C Chair of the HTML5 Interest Group. Huang, meanwhile, is a serial entrepreneur and expert coder.

How Does Pundi X Work?

Central to Pundi X is the trademarked XPOS wireless, blockchain-based point-of-sale solution. Using XPOS, consumers and merchants alike can buy, sell, and transact in physical stores using digital assets including BTC, ETH, and of course PUNDIX itself.

XPOS offers practically instant transactions at just half a second, which eliminates some of the pains of using blockchains like Bitcoin that take much longer for transaction finality. XPOS is also currency neutral, so it allows the use of multiple popular digital assets.

The XPOS solution also dovetails neatly with XPass, another key Pundi X innovation. An easy-to-use tap card, XPASS can be topped up with cryptocurrency and then used for payments, much like a traditional prepaid card.

However, it can be paired easily with the XWallet mobile app and used with XPOS, creating an ecosystem that’s just as simple to use as a bank card, bank app, and traditional point-of-sale devices.

Merchants, meanwhile, are insulated from the volatility inherent to cryptocurrency because they receive their settlements in either stablecoins or fiat currency in partnership with their distribution partners.

In fact, there are two different versions of XPOS that merchants can choose from, with a third in development. XPOS Handy offers all the functionality of standard XPOS aside from API integration with Apple Pay, Samsung Pay, and VISA/MasterCard. Meanwhile, XPOS Desk is a wired version with all the features except mobile connectivity.

What makes Pundi X Unique?

Pundi X is unique in the blockchain industry for its focus on retail use and for going to the next level in this regard by offering its own hardware point-of-sale solution.

XPOS is a versatile device as well, based on Android 7.0 and possessing its own application store. Developers can publish apps targeting retailers, such as those for cryptocurrency transactions, wallets, financial or insurance services, memberships or loyalty programs, and even delivery management. Publishing an app on the Pundi XPOS app store requires PUNDIX tokens.

How is the Pundi X Network Secured?

Pundi X is secured by the Ethereum blockchain and its own Pundi X Chain. The latter was introduced in 2021, and before that, the PUNDIX token and its predecessors existed in the form of ERC-20 tokens.

The Pundi X Chain is based on Function X and operates like a delegated proof-of-stake blockchain, allowing PUNDIX holders to delegate their tokens to validator nodes to participate in block validation and earn rewards. The generation of new block reward tokens is a dynamic process that is subject to the staking ratio of the blockchain.

What is the Use of PUNDIX?

The PUNDIX cryptocurrency is used with the Pundi X ecosystem to fuel transactions, rewards, payments, and incentives across the XPOS solution as well as XWallet and XPass.

PUNDIX isn’t actually the original cryptocurrency of the Pundi X platform. The project launched with tokens called NPXS and NPXSXEM, but these were swapped to PUNDIX at a rate of 1 NPXS to 1000 PUNDIX.

How Much PUNDIX is In Circulation?

PUNDIX has a total supply of over 258 million coins, with over 235 million already in circulation.

It is an ERC-20 token on the Ethereum blockchain, so you can take a look at all Pundi X transactions, smart contract information, and even the top PUNDIX holders on Etherscan. However, PUNDIX is also the native coin of the new Pundi X Chain, a payment-focused blockchain in the function X network.

How Do You Buy PUNDIX?

You can buy PUNDIX using a variety of exchange platforms. Many of the top centralized exchanges offer PUNDIX, generally paired with stablecoins like USDT but also with fiat currencies. It’s also very easy to buy PUNDIX on decentralized Ethereum-based exchanges like Uniswap.

How Do You Store PUNDIX?

The best way to store PUNDIX is by using the Pundi X native wallet, called XWallet. XWallet offers seamless offline and online blockchain transactions, allowing you to instantly buy and spend digital assets using XPOS technology. It’s also a non-custodial wallet with private wallet features built into the app.

XWallet allows users to manage, transfer, and even grow their digital assets with different dApp features, including integrating staking. It also supports the popular messaging service Telegram and can be paired with the XPass card for even better digital asset management.

Of course, since PUNDIX is an ERC-20 token, you can use any Ethereum-compatible wallet to store it. Metamask, Ledger, Trust Wallet, and all of the mainstream Ethereum wallets can all handle PUNDIX tokens.

Is PUNDIX a Good Investment?

PUNDIX is a compelling project because of its roots in the basic vision of cryptocurrency in general. Bitcoin was designed to be an electronic peer-to-peer form of cash, while Pundi X attempts to make a system where users can spend digital assets.

This makes digital assets closer to the forms of currency that many were, in fact, designed to be. While there is a trend towards governance and utility tokens among newer projects, many of the earliest cryptos, including BTC, were meant to be transacted.

In that sense, PUNDIX could be a very lucrative investment since the project remains in its relative infancy and is nevertheless seeing adoption among merchants in a significant number of markets. If Pundi X and XPOS can reach a critical mass, the PUNDIX coin may do the same.