Indonesian Startup Pundi X to Enable Crypto Payments in Venezuelaby Fintechnews Singapore August 21, 2019
Traki, one Venezuela’s largest chain of department stores, announced that it will be implementing XPOS, a point-of-sale device powered by blockchain.
Through the XPOS, Traki customers are able to use various cryptocurrencies like Bitcoin, Ether and Pundi X’s own crypto as payment options for the retailer’s products. This crypto payment method will enabled across its 49 stores across the country.
Venezuela is among the countries with the highest volume of crypto assets transactions and is often used as an example by the crypto community to highlight the failings of fiat currency and the use case for crypto.
At the height of its hyperinflation in 2018, Venezuela saw inflationary rates exceeding 1,000,000%.