Venezuelans can now shop with crypto, including BTC and BNB, at retailer Traki’s 49 stores

Cryptocurrency • August 23, 2019, 2:05AM EDT
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Traki, one of the largest chains of department stores in Venezuela, is now accepting payments in ten cryptocurrencies and tokens, including bitcoin (BTC) and Binance coin (BNB), at its 49 retail stores.

Singapore-based blockchain startup, Pundi X, has enabled its point-of-sale (PoS) device “XPOS” across Traki’s 49 stores for the initiative, according to an announcement Thursday.

Through the device, Traki customers can now purchase everyday essentials with ten cryptocurrencies and tokens - bitcoin (BTC), ether (ETH), Binance coin (BNB), DAI stablecoin, Digix gold token (DGX), NEM (XEM), KuCoin Shares (KCS), Kyber Network (KNC), and Pundi X's own two tokens - NPXS and NPXSXEM.

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Venezuela’s hyperinflation situation and lack of cash make cryptocurrencies “a necessary form of commercial trade, and a perfect way to protect the value of liquid assets,” said Pundi X.

Retailers in over 30 countries, including Argentina, Australia, South Africa and Uganda, use XPOS device, Pundi X said, adding that it aims to roll out 100,000 devices to the global retail market by 2021.

Back in October, Pundi X also revealed a blockchain phone called XPhone, which is expected to ship in Q4 of this year to pre-order customers, according to information on its website.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.

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