Partnership to co-develop Pundi X
ecosystem and support deployment of Pundi X POS in South Korea
SEOUL, South Korea,
July 20, 2018 /PRNewswire/ --
Pundi X, the developer of a
blockchain-based point-of-sale ("POS") solution, and UBIVELOX
(089850), the KRX-listed company and world's sixth-largest
manufacturer of smart cards, today announced UBIVELOX's entry into
the cryptocurrency market following a deal between the two
companies.
Through a strategic alliance signed at Pundi X's R&D
center in Shenzhen on Thursday, UBIVELOX, which is a
leading world innovator in smart cards, security and communications
devices, will support the deployment and development of the Pundi X
POS in South Korea. A global
cryptocurrency center, South Korea is one of Pundi X's primary
launch markets for its point of sales ("POS) device that enables
consumers to pay for goods in physical stores in multiple
cryptocurrencies.
The signing of an agreement will form part of a broader business
partnership including the development of options for the
distribution of Pundi X's multiple-cryptocurrency enabled XPASS
cards, leveraging UBIVELOX's deep connections with South Korean businesses.
Pundi X plans a global rollout of its multi-cryptocurrencies
enabled XPOS device and smart XPASS card to empower physical retail stores to conduct
cryptocurrency transactions. Currently, Pundi X has offices in
Jakarta, London, Shenzhen, Tokyo, Singapore, and Sao
Paulo, and has actively
partnered with payment gateways, global distributors and IT
companies to create an environment in which cryptocurrencies can be
conveniently used in real life.
As of today, Pundi X has received in excess of 5000 pre-orders
for its XPOS devices from Switzerland, Japan, South
Korea, and Singapore, and has made
contracts for 20,000 XPOS devices with the NEM Foundation over the
next three years.
Prior to its entry to South
Korea, Pundi X has secured domestic and overseas merchants.
Through their strategic alliance Pundi X and UBIVELOX plan to
discuss business partnership across a variety of cryptocurrency
business streams including the development and distribution of
XPASS cards for payment the development of a mobile payment system
for cryptocurrency, support for security technology for commercial
cryptocurrency use on the XPOS device.
Jae Kwan Kim, Senior Vice
President of UBIVELOX who led the development of the business
affiliation with Pundi X said, "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. Through this, it is expected that the
company will play a leading role for global cryptocurrency payment
market in the future." Mr Kim affirmed his confidence in the growth
of the company.
Zac Cheah, the CEO and co-founder
of Pundi X said: "To have a partner of UBIVELOX's pedigree in the
development of smart card and security solutions is a major boost
to Pundi X's already fast-paced global rollout.
"UBIVELOX has shown itself to be an international innovator in
the fields of smart card, mobile and blockchain developments. To
have them collaborating with us on the rollout of the XPASS but
also to secure important additions to its security and utility will
help our deployment considerably, not just in South Korea but also worldwide".
Pundi X has developed a market-leading blockchain-based XPOS
device that can accept not only credit card, cash, and mobile payment apps but also
cryptocurrency. Through this, Pundi X enables mainstream consumers
to buy cryptocurrency at offline stores using cash, bank card,
a mobile app or XPASS, or pay for
goods in stores.
UBIVELOX has been supplying smart card chips that are
competitive in finance, telecommunication, transportation, public
and various fields based on its smart card technology. The
company's development and supply of smart card integration
solutions to financial institutions was a market first for domestic
technology, and demonstrates its strong enterprise position.
The company has filed other three patents relating to
blockchains along with cryptocurrency payment system and payment
method using cryptocurrency (in South
Korea and China)
About UBIVELOX
Ubivelox Inc engages in the smart card and mobile convergence
businesses internationally. The company offers contact cards,
dual-interface cards, embedded secure element products, subscriber
identity module (SIM) cards, and others. It also provides mobile
payment solutions, mobile wallet solutions, and e-coupons. In
addition, the company offers various platforms, including
Personalization Management System, a data preparation process
software; Personalization Authentication System, a small issuance
system to generate and personalize products desired by user's need;
Smart Card Management System; Trusted Service Manager, an
integrated service platform; and ePurse solution, a pre-paid
solution. Further, it provides M2M SIM, a solution that enables
secure Internet of Things using encrypted communication methods,
including 3G, NFC, BLE, WiFi, and RFID for automotive, metering,
remote management, and industrial data collection applications. The
company's products are used in banking and finance,
telecommunication, and transportation fields, as well as national
ID cards. Ubivelox Inc was founded in 2000 and is based in
Seoul, South Korea. For more
information, please visit www.ubivelox.com/
About Pundi X
Pundi X (Currency: NPXS), a multi-cryptocurrency point-of-sale
("POS") solution provider, empowers blockchain developers, exchange
platforms, crypto traders and token holders to buy, sell and spend
cryptocurrency at any physical store in the world. The company's
solution also enables the retail store owners who are seeking to
accept digital currencies so that they can do 'cryptocurrency to
fiat' or 'crypto to crypto' transactions for the mainstream
consumers.
The company is aiming to roll out more than 100,000
blockchain-based POS devices worldwide in a major challenge to the
status quo of the US$2.2-trillion
global retail payments market.
Headquartered in Jakarta, Pundi
X has offices in London, São
Paulo, Shenzhen, Singapore, and Tokyo. For more information, please visit
https://pundix.com/.
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SOURCE Pundi X; UBIVELOX