Image: Jae Kwan Kim, Senior Vice President of Ubivelox, and Pitt Huang, Chief Technology Officer of Pundi X, signed MoU in Shenzhen on July 19, 2018
Indonesian point-of-sale (POS) terminal maker Pundi X Labs (Pundi X) signed a Memorandum of Understanding with South Korean smart cards maker Ubivelox on Thursday to support the deployment and development of its devices in South Korea, Pundi X said in a statement.
Pundi X’s innovative POS terminal[1], called Pundi XPOS, supports cryptocurrency payments as well as transactions through mobile wallets including Alipay and WeChat Pay and payment cards. All Pundi X devices are connected to the Ethereum and NEM blockchain. The company’s latest model supports 13 cryptocurrencies.
Pundi X also offers the XPASS cards, a smart card that allows users to buy, sell and trade cryptocurrencies, as well as purchase daily items.
Pundi XPOS
The agreement between Pundi X and Ubivelox will also see the two companies collaborating on varied cryptocurrency business streams, including the development and distribution of XPASS cards for payment, the development of a mobile payment system for cryptocurrencies, and support for security technology for commercial cryptocurrency use on the XPOS device.
For Ubivelox, the deal marks the firm’s entry into the cryptocurrency space. South Korean Ubivelox specializes in smart card, mobile and security technologies. The company’s products are used in the banking and finance, telecommunication, and transportation fields, as well as national ID cards.
“The idea behind Pundi X, to make cryptocurrencies easy to use in real life, can be realized more quickly and safely by combining with our smart card technology, patents, and products,” said Jae Kwan Kim, senior vice president of Ubivelox, who led the development of the business affiliation with Pundi X.
Zac Cheah, CEO and co-founder of Pundi X, said that having Ubivelox
