The cryptocurrency space is elated due to the announcement that Pundi X POS is to be used in hundreds of Colombian shopfronts, through Manticora Capital who is to distribute more than 1,000 devices in different stores across the country, and later to other countries.
This is no doubt a great news for Stellar (XLM), Verge (XVG), And NEM (XEM), which already are partners with Pundi X.
The first distribution will take place in South America and Colombia due to a partnership agreement with Manticora Capital, a renowned Colombian investment fund.
In the next six month, around a thousand Pundi X POS Devices are to be distributed across Colombia.
The receivers are going to be hospitality businesses, general retailers and specialists in the nooks and crannies of the country. The idea is to foster cryptocurrency adoption as preached by many a number of crypto enthusiasts.
Manticora Capital, who is to achieve the distribution invests in Initial Coin Offering (ICO) projects. It also involves in advising blockchain projects among other things.
The distribution is an attestation to Pundi X’s desire to increase mass adoption of cryptocurrency all over the world.
The CEO and co-founder of Pundi X, Zac Cheah, who spoke on the development made known that the demand for digital currency has spiked in Colombia lately. The country is known as a base for cryptocurrency activities, Forbes ranked it among the top 10 countries with the most active Bitcoin market.
Ivan Correa, CEO of Manticora Capital in his statement showed optimism that Pundi X is going to receive full acceptance for the fact that local banking archaic ideas are creating room for crypto adoption in the country.
He averred that with this XPOS, Columbians have received solutions to the long existing problems with emanating from local banks.
Not long Pundi X announced it integrated Verge (XVG) into its XPOS. There is hope that it will add other cryptocurrencies once the idea is bought into as soon as possible.
Recently, Pundi X aired that around 20,000 NEM XPOS have been ordered and they are in production and development stage.