The South African cryptocurrency partner cooperates with an international payment processing firm based on the blockchain. The merger of DoshEx and PundiX will allow novice cryptocurrency users to spend their assets in real locations in South Africa.submitted by Kriptowolk to u/Kriptowolk [link] [comments]
Since millions of South Africans live without access to banking services, this merger may help introduce digital assets in the country.
Crypto firms target early adopters in South Africa, non-banking and anyone with an XPOS system.
According to the South African technology publication IT Online, the local exchange platform exchanges DoshEX will work with the global payment chain company PundiX to present XPOS devices for sale at points of sale. Soon, South African users of cryptocurrency will be able to replenish PASSIX XPASS cards with various digital currencies and spend them in real stores.
Cryptocurrencies supported by PundiX XPOS devices will include bitcoins, ethers and Binance Coin and others. According to the startup website, the goal is to install at least 100,000 such outlets by February 2021.
The system is ideal for those who lack banking services, as it allows you to make digital payments without the need for a traditional account. Nevertheless, two startups obviously hope to attract more than just those who live in South Africa without banking services. The service works using a familiar credit card-sized payment card, for which you must click on the terminal. This decision to make the process the same as a payment by a contactless bank card was intended for those who are already familiar with such payment methods, while remaining available to those who do not.
PundiX Labs CEO Zak Chia commented on the merger:
"XPOS IS A CAPTIVAL"
He further stated that a partnership decision with an established DoshEX exchange platform should encourage those already familiar with the marketplace to try this service.
Alex de Brun, CEO of DoshEX, added:
“IT WAS IMPORTANT TO EXPAND THE TESTED AND VERIFIED TECHNOLOGY, BECAUSE OUR GOAL IS TO QUICKLY BUILD THE FIRST NETWORK OF CRYPTOLOGY IN SOUTH AFRICA. HERE'S WHY WE COOPERATE WITH PUNDIX. ”
Cryptocurrency continues to penetrate more real places.
The announcement of DoshEX and PundiX about the introduction of cryptographic devices in South Africa is the latest example of how digital assets are increasingly used in real-world conditions. Previously, NewsBTC reported that French tobacco stores are introducing services for buying digital currency without a prescription. Most recently, it was still announced that the exchange giant Binance has launched real-world cryptocurrency services to Australian newspaper agents.
Although such examples do not guarantee adoption, they certainly help to secure the place of Bitcoin and other popular digital assets in the public psyche. Particularly encouraging is the fact that such services are focused on emerging markets, such as South Africa, because there is no bank in the world that is often claimed to derive maximum benefit from the democratizing crypto-monetary revolution.
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