Pundi X announces XPOS Web 3.0 in Singapore Fintech Festival
SINGAPORE, 2 November 2022 /PRNewswire/ — It is undeniable that Web 3.0 use cases such as NFTs and cryptocurrencies are on the rise today. A survey conducted earlier this year by management consultancy Deloitte found that nearly 75% of retailers plan to accept either cryptocurrency or stablecoin payments during the next two years. 87% of merchants largely agree that organizations that accept digital currencies have a competitive advantage in the marketplace. In fact, 93% of those who currently accept cryptocurrency as a payment instrument has already seen a positive impact on the business’ customer metrics, such as customer base growth and brand perception, and they expect this to continue next year.
To accelerate mainstream Web 3.0 adoption, blockchain solutions startup Pundi X is pleased to announce the launch of XPOS Web 3.0 in Singapore Fintech Festival 2022. This new feature builds on XPOS, which is a unique vending machine that enables brick-and-mortar merchants to accept crypto payments and transactions on the blockchain. With XPOS, regular merchants can accept top coins such as Bitcoin and Ether with just a scan of the QR code or a tap on an NFC-enabled card.
XPOS Web 3.0 gives an exciting new spin on the original XPOS’ unique proposition. This is because XPOS Web 3.0 will support multiple blockchain networks included Bitcoin Lightning Network, Binance Smart Chain, EthereumPolygon and Avalanche.
With the cross-chain features of XPOS Web 3.0, users can buy and pay for all kinds crypto with their blockchain wallets. For example, the new Cashier Pro feature accepts BTC, ETHBNB and USDT crypto payments from third-party wallets that support their relevant blockchain networks.
However, XPOS Web 3.0 is good for more than just individual use cases. Merchants will be able to use the p(x)Change dApp powered by Function X technology to link their blockchain wallets to accept crypto payments and sales crypto via multiple blockchain networks.
Finally, XPOS Web 3.0 doubles down on its commitment to enabling easy Web 3.0 transactions by introducing the p(x)Card, a Near Field Communication (NFC)-enabled hardware wallet card developed with renowned semiconductor manufacturer Infineon. The NFC technology facilitates secure and efficient two-way communication in a transaction and ensures that transactions with crypto is as easy as swiping a card.
The launch of XPOS Web 3.0 hopes to be a game changer in enabling decentralized payments that put people back in control of their assets. One of the biggest draws to Web 3.0 digital assets that crypto and NFT is that data about ownership is stored on blockchains instead of private companies. The idea is that users themselves should be able to decide with whom they share their data, the level of access granted, and when this data is to be shared.
“We see our work with XPOS Web 3.0 as a big step in revolutionizing what we own,” concluded Pundi X CEO and co-founder Zac Cheah. “With XPOS Web 3.0 as our contribution to the web3 movement, it will certainly be interesting to see how this technology will change our lives in the coming years.”
Pundi X will showcase XPOS Web 3.0 at the Blockchain Association Singapore Pavilion during the Singapore Fintech Festival from 2.–4. November 2022.
About Pundi X
Located in Singapore, Pundi X was founded in 2017 with the goal of harnessing the power of blockchain technology to make a more secure and financially inclusive world. The company is responsible for developing XPOS, a smart device that enables physical stores to shop on the blockchain. The company currently has offices in JakartaSão Paulo, Seoul, Taipeiand Tokyo.
Pundi X has also been selected as one of the Top 50 Innovative Fintech Startups of 2018 by KPMG and H2 Ventures, Cool Vendors in Blockchain Business by Gartner, and Top 10 Fintech Leaders by the Singapore Fintech Association.
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SOURCE Pundi X
