Venezuelan department store chain Traki has begun accepting payments in 10 cryptocurrencies at its 49 retail locations. Pundi X, a Singaporean blockchain startup, has enabled its XPOS point-of-sale device across Traki's stores, allowing customers to purchase everyday essentials using cryptocurrencies such as Bitcoin (BTC), Ether (ETH), and Binance Coin (BNB). Traki's adoption of crypto payments aims to address Venezuela's hyperinflation and cash shortages.
Venezuelan Department Store Giant Traki Embraces Cryptocurrencies for Seamless Payments
In a groundbreaking move, Traki, Venezuela's retail behemoth, has officially joined the cryptocurrency revolution. Customers at all 49 Traki stores can now make payments using a diverse range of ten cryptocurrencies and tokens, including industry heavyweights like Bitcoin (BTC) and Binance Coin (BNB).
This audacious initiative is made possible through a partnership with Singapore-based blockchain trailblazer Pundi X. The company's pioneering point-of-sale (PoS) device, known as "XPOS," has been meticulously integrated across Traki's sprawling network of retail outlets.
Through the XPOS device, Traki customers are empowered to use cryptocurrencies for everyday essentials, unlocking a seamless and efficient shopping experience. The cryptocurrencies supported for payment include Bitcoin, Ether, Binance Coin, DAI stablecoin, Digix gold token, NEM, KuCoin Shares, Kyber Network, and Pundi X's native tokens, NPXS and NPXSXEM.
Pundi X, a company renowned for its groundbreaking blockchain solutions, hailed this move as a testament to the growing importance of cryptocurrencies in an era marked by hyperinflation and cash shortages. "In Venezuela, cryptocurrencies have become a necessary form of commercial trade and a perfect way to protect the value of liquid assets," said Pundi X, underscoring the compelling benefits of digital currencies.
The XPOS device has garnered widespread adoption in over 30 countries across the globe, including Argentina, Australia, South Africa, and Uganda. Pundi X is relentlessly pursuing its ambitious goal of deploying 100,000 XPOS devices in the global retail market by 2021.
Furthermore, Pundi X unveiled its visionary blockchain phone, appropriately named XPhone, in October 2020. This cutting-edge device is slated for shipment in the fourth quarter of this year, heralding a new era of mobile innovation.
Traki's decisive embrace of cryptocurrencies and its partnership with Pundi X is a resounding endorsement of the transformative power of blockchain technology. It signals a shift towards a more accessible, secure, and efficient financial landscape in Venezuela and beyond. As the world continues to navigate the uncharted waters of digital currencies, Traki's bold initiative serves as a beacon of innovation and progress.
