How do Pundi X (PUNDIX) crypto and its retail business work?

Highlights:

• Pundi X develops blockchain-enabled Point-of-Sale devices to transform retail business.
• Zac Cheah and Pitt Huang founded Pundi X in 2017.
• The PUNDIX token has a market capitalization of US$115.8 million.

A few cryptos were swimming against the tide on Tuesday amid the continuing decline in the global crypto market, which fell 1.89% to US$944.68 billion, dragged down by losses in Bitcoin (BTC) and other major cryptocurrencies. 

Bitcoin (BTC) fell 1.93% to US$21,019.91, and Ethereum was trading at US$1,219.98, down 1.04%. However, the altcoin Pundi X (PUNDIX) jumped 3.22% to US$0.4482 at 6:45 am ET.

The token gained traction after opening its 11th crypto store at a Turkey shopping mall. 

The company plans to host an AMA session with Ramp Network on June 29. Ramp is a payment infrastructure platform for crypto assets. It also shares insights into Pundi X and the Ramp ecosystem.

What Is Pundi X (PUNDIX)?

Pundi X develops blockchain-enabled Point-of-Sale devices to transform retail business. These devices allow buying and selling and crypto payments for various store purchases.  Its PoS solutions enable consumers and merchants to execute blockchain transactions instantly.  

Pundi X was founded in 2017 as the world’s first PoS solution.

It brought its initial coin offering (ICO) in 2018. After the successful ICO, it launched other services such as XPOS, XWallet, XPASS and BOB/XPhone. 

XPOS is the blockchain-powered wireless PoS for cryptocurrencies. The product is designed so to accept all cryptocurrencies. XWallet is a mobile app to manage digital assets, including transfers, check balances and top-ups.

XPASS is a card issued to every XWallet registered user, while Blok-on-Blok (BOB or XPhone) is the world's first blockchain phone built on Android 9.0, enabling decentralized internet. 

In 2019, it launched an ‘Open Platform’ to cater to more blockchains and DeFi developers.

The Singapore-headquartered company has offices in London, Jakarta, Sao Paulo, Tokyo, Seoul, and Taipei. According to its website, it had more than 100 employees as of January 2022.

Zac Cheah and Pitt Huang founded the Pundi X project after they struck with the idea in 2012 during a meeting of the HTML5 Interest Group. Currently, Cheah is the CEO, and Huang serves as the CTO and COO of Pundi X.  

Coinmarketcap.com

PUNDIX token:

The PUNDIX token has a market capitalization of US$115.8 million. 

Its volume catapulted to US$55.4 million, up 358.12% over the last 24 hours. The token has a circulating supply of 258.5 PUNDIX, the same as the total supply. FTX, Binance, KuCoin, DigiFinex and Upbit are some crypto exchanges that offer the PUNDIX token for trading. 

Bottom line:

Pundi X solutions are used in over 25 countries, including the US, Australia, Spain, Taiwan, Argentina, and Korea. The token fell nearly 57% YTD.

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