With the increasing hyperinflation in Venezuela, businesses across the country are looking up to adopting cryptocurrency, and so, Traki, the largest chain of department stores in Venezuela has adopted Bitcoin, Binance Coin among other hosts of cryptocurrency via Pundi X.
The progress was achieved through a partnership with Pundi X. Now, Traki stores across the country can now receive payment using the host of cryptocurrency enabled in Pundi XPOS, the respected blockchain-dependent POS with presence in over 25 countries.
The move makes Traki, the first chain store merchant to implement the XPOS. Traki has 49 stores in Venezuela, and has been in Venuzuela for more than 30 years.
The accepted cryptocurrency in Traki’s stores across the country include Bitcoin, Ether, Binance Coin, DAI, XEM, DGX, KCS, KNC and Pundi X’s own tokens, the NPXS and NPXSXEM, a press statement by Pundi X has confirmed, pointing that transaction fees are to be paid in NPXS and NPXSXEM.
Speaking on the progress, the co-founder and CEO of Pundi X, Zax Cheah, said Traki is one of the early adopters of crypto in the country.
The co-founder hoped the adoption of XPOS is an expansion of crypto use cases expected by Traki’s customers.
The cryptocurrency assets department of Traki, headed by Micheal Gomez, said the company is poised to offering the best to its customers, claiming that crypto has proven to be the most efficient payment solution.
There is increasing adoption of cryptocurrency in Venezuela. The hyperinflation and reduced fiat in circulation have been huge reasons for the increasing adoption of bitcoin across the country.
Pundi X, through the partnership, is looking to expanding the number of cryptocurrency adopters in the country.
Now that XPOS devices have been adopted by Traki, the company is now part of the Pundi X’s global payment ecosystem.