Pundi X Payment Platform Adds Support for Decentralized Stablecoin DAI | BTCMANAGER
Bitcoin, Blockchain & Cryptocurrency News
According to an official announcement made on August 7 by blockchain project Pundi X, MakerDAO’s stablecoin DAI has been integrated into the Pundi X payment Network and can be used to make transactions through its products and services.
A Stablecoin to Facilitate Payments
Cryptocurrency payments startup Pundi X announced on August 7 that they had successfully integrated MakerDAO’s stablecoin DAI into their payment ecosystem which includes the XWallet app, XPASS Card and XPOS device.
The integration was possible thanks to the Pundi X Open Platform which allows custom ERC20 digital token listing within Pundi X products. In addition, for all successful custom token listers it will be possible to create customized XPASS cards. MakerDAO has already taken advantage of this option by creating 50,000 MakerDAO-branded XPASS cards that will be sent to users starting next month.
Initially, the distribution of the cards will be concentrated in four regions of Latin America: Brazil, Argentina, Colombia, and Venezuela as the use of cryptocurrencies in these regions hit an all-time high in early August 2019 due to a period of severe hyperinflation which hit all the countries at the same time.
Even though for these countries, digital currencies are a better alternative to a national currency, trying to use bitcoin (or any other cryptocurrency) today in everyday commerce makes little sense due to its volatility and usability (confirmation times, fees, TX throughput, available wallets…).
This is the reason why Pundi X has decided to collaborate with MakerDAO.