Real-World Crypto Payments Coming to South Africa, DoshEX and PundiX Team Up
A South African crypto exchange has actually partnered with a global blockchain-based payment processing firm. The merger between DoshEx and PundiX will enable early cryptocurrency adopters to invest their holdings in real-world locations throughout South Africa.
With millions of South Africans living without access to banking facilities, the merger might assist in driving digital asset adoption within the nation.
Crypto Firms Target South Africa’s Early Adopters, the Unbanked, and Everyone in Between with XPOS System
According to South African technology magazine IT Online, regional exchange platform DoshEX will deal with global blockchain payments firm PundiX to introduce the latter’s XPOS point-of-sale gadgets into retail areas. South African crypto users will quickly have the capacity to top up PundiX’s XPASS cards with numerous digital currencies and spend them in real-world stores.
Cryptos approved by PundiX’s XPOS devices will include Bitcoin, Ether, and Binance Coin, amongst others. The objective, according to the start-ups site, is to install a minimum of 100,000 of these point-of-sale units by February 2021.
The system is perfect for those lacking banking services considering that it permits digital payments without needing a traditional account. Nevertheless, the 2 start-ups are undoubtedly hoping to interest more than just those residing in South Africa without banking facilities. The service works using a familiar credit-card sized payment card, which needs tapping on the terminal to make a payment. This decision to make the procedure similar to making a contactless bank card payment has actually been anticipated to appeal to those already acquainted with such payment methods, whilst still being available to those who are not.
The CEO of PundiX Labs, Zac Cheah, commented on the merger:
“XPOS is the easy, affordable access point into crypto for mainstream retailers and consumers… Now, an XPASS card loaded with crypto enables ordinary people to embrace the crypto-future, including millions of unbanked South Africans.”
He went on to state that the decision to partner with the recognized DoshEX exchange platform ought to motivate early adopters already knowledgeable about the trading location to try the service too.
Alex de Bruyn, the CEO of DoshEX, added:
“It was essential to roll out trusted and proven technology as our objective is to rapidly build South Africa’s first point-of-sale cryptocurrency network. This is why we partnered with PundiX.”
Cryptocurrency Continues to Sneak into More Real-World Locations
The statement by DoshEX and PundiX to present crypto point-of-sale devices in South Africa is the most recent example of digital assets moving more into real-world usage. Formerly, NewsBTC had actually reported on French tobacco shops introducing digital currency buying services over-the-counter. Further recently still was the statement by exchange giant Binance introducing real-world crypto trading services to Australian newsagents.
Whilst such examples do not ensure adoption, they definitely help seal the position of Bitcoin and other popular digital assets in the public mind. It is especially motivating to see such services concentrate on emerging markets such as South Africa since it is the unbanked of the world who are often declared to have the most to acquire from the democratising financial revolution crypto could usher in.
Below is a video of Bitcoin evangelist Andreas Antonopoulos explaining the benefits Bitcoin and other decentralised digital assets could bring to poorer parts of the world, a subject he is incredibly enthusiastic about:
Featured Image from Shutterstock.
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