Crypto Payments Firm Pundi X Expands in South America with Brazilian Office

Indonesia-based blockchain firm Pundi X will open an office in Brazil in line with its intentions to expand to increasingly crypto-savvy South America, according to a Medium post released on Tuesday.

In South America, Pundi X will distribute its point-of-sale (POS) terminals dubbed X POS. The startup said it has already delivered the first batch of the machines and has signed partnerships with several local retailers, but did not provide further information about the merchants.

The decision to set up headquarters in Sao Paulo was based on the solid interest in digital coins in South America, the statement read.

“In this part of the world, cryptocurrency is the subject of growing demand, especially in countries such as Brazil, Argentina, Colombia and Venezuela,” regional country manager Joao Victor Mendes noted.

Pundi X recently held community meetups in Bogota and Medellin where it met considerable enthusiasm from retailers from Colombia and the region. The startup did not go into details but hinted at upcoming Colombian partnerships that will be announced shortly.

The establishment of the new office in Brazil came two weeks after Pundi X gained presence in the Middle East through a partnership with Emirati fintech company ebooc. The two parties agreed to roll out POS terminals for the payment of bills, utilities, school fees, etc.

In another recent development Pundi X’ retail devices were rolled out in restaurants in Hong Kong, thus allowing clients to pay with cryptocurrency-charged cards.

In relation to the opening of the Sao Paulo office, the Indonesian firm is looking to recruit, among others, a business development manager and blockchain marketer.