The Pundi X company is a startup, which aims to put together cryptocurrencies as enablers of ever-present cashless payment milieus across the terrains of South East Asia and more. The Pundi X POS allows cafes, convenience stores, and shops to sell cryptocurrency to a wide-ranging section of customers.
The blockchain firm is building on the victory of Pundi-Pundi. This is among the most popular cashless payment QR code apps in Indonesia. The Pundi X ICO is going to give out funding means for as big as 700,000 of Pundi X POS devices, which are to be installed in the next 3 years on all its target markets across the world.
It has fruitfully closed up its pre-sale ICO by way of a 3,148 ETH, 613 BTC and 250,040 XEM total, equal to 4 million US Dollars or 14,000 ETH, raised through 615 investors. The Initial Coin Offering (ICO) full public began on November 20, 2017.
The ICO check for Pundi X ICO is 14,000 ETH or 5% from an entire ICO hard cap of 280,000 ETH. Ethereum can be exchanged with PXS tokens, wherein 1ETH is valued at 500 PXS. Well-known angel investors in the ICO pre-sale include Lon Wong and David Lee Kuo Chuen. Chuen serves as Professor of Quantitative Finance, along with being an investor of TenX, InfoCorp, ZCash, Qtum, and OmiseGo. Lon Wong is the NEM.io Foundation’ President and Dragonfly Fintech’s CEO. Nem presently ranks seventh in the Coinmarketcap.
The Pundi X firm aims to crack the last mile test for cryptocurrency sales and purchases. The corporation’s business rests on the present Pundi-Pundi business model for cashless payment systems that enable Smartphone consumers to scan their QR codes and make instant imbursements in restaurant outlets and retail. Already, Pundi-Pundi has signed up over 100,000 registered consumers and 500 merchant partners in less than its initial year.
For further info about this venture, check out their whitepaper.
The price of every POS device is around USD 300 and so around USD 30 million would be spent on delivering the initial 100,000 devices. The residual 600,000 devices would also get funded by the revenue and tokens from the participating merchants of B2B in the ecosystem of Pundi X. Pundi X is expecting a profit from its offered services of POS devices, along with the sale of bitcoins.
In the initial week of ICO, the investors will get a bonus of as far as 65% additional tokens as a reward. Additionally, the investors investing 30 ETH or an equivalent via a sole address will get free of cost XPOS device. These devices doled out in this offer will get shipped within a period of 45 days subsequent to the finishing of the ICO procedure.
The CEO of Pundi X, Zac Cheah, has stated that the firm has received a lot of positive interest from investors all around the globe. This KYC process is intended to bring high protection degree to participants in ICO for ensuring its sure shot success and cooperation between the team and the investors.
