Pundi X (NPXS) has been a revelation in the merchant business since it launched earlier this year. The company has been on the forefront to channel the heavily fiat dominated retail store industry to the cryptocurrency movement. The first cryptocurrency to partner with Pundi X was NEM (XEM) when it was integrated to their beta versions of their point of sale devices in the final quarter of 2017. The NEM blockchain and Pundi X partnership showed further strength in Q2 2018 as Pundi X revealed the first 20,000 NEM XPOS devices terminals. These are to be distributed to the NEM foundation who will in turn distribute.
“NEM XPOS device will deliver faster transactions at the physical retail stores. Consumers will be able to conduct multiple NEM-based cryptocurrency transactions via XPOS point-of-sale terminals.”
The device will in no doubt change how the current cryptocurrency merchant and consumer payments are done. The project aims at making the fiat to crypto payments instant, low cost and seamless encouraging adoption of crypto.
The Pundi X team have now completed a $17 million USD private placement that will fund the development of the NEM XPOS and the blockchain through a three year period that will see the company produce a total of 20,000 devices.
The token to be used will be dubbed NPXSXEM, the Pundi X-NEM token that will allow transactions across the blockchain connected devices which will then be transformed to fiat or another crypto. The NPXSXEM token holders will have three major benefits on their side. First it will ease the change of crypto payments to fiat making it more suitable for retail services and stores to accept cryptocurrencies. This raises the adoption rate of both XEM and NPXS giving the early sellers advantage of selling the coins at a profit, ensuring capital gains. Lastly, the holders will access the NEM XPOS at competitive rates hence reducing costs of transactions while increasing the speed of transactions.
What impact should we expect these recent news to have on the price of NEM (XEM), a coin placed 14th on Coinmarketcap market capitalization ranking with over $3 billion USD worth of XEM existing. This is in no way an exhaustive list but some of the positives the NEM XPOS offers XEM potential growth.
How NEM XPOS aims to impact XEM
- Merchants using NEM XPOS will drive up XEM adoption
Once merchants and other retail clients start using the point of sale terminals, cryptocurrencies may well see a bump in adoption as buying and selling will be made easier. With XEM toping the partnership list (ZCash has also gained Pundi X POS support), it will drive up adoption amongst the public. Cryptocurrencies were mainly created to ease up payments by making the process cheaper, simpler and easy to use. If the marketing is done right, the only promise is a boost in adoption in the use of cryptocurrencies in everyday payments.
- Listing of NPXSXEM on major exchanges will positively impact XEM’s price
The new token to be used in the point of sale, NPXSXEM will soon be rolled out on exchanges as per the announcement made by the team at the end of April. The coin has already been listed on Exrates, a cryptocurrency exchange allowing BTC, USD and USDT pair’s trades. This increases the utility of XEM as it directly connects to the new token. XEM is expected to increase in value substantially as the coin gains more listings on major exchanges.
- Real world application powers stability
XEM is proving to be a real world token use as the NEM XPOS give real use to cryptocurrencies diversifying uses from the increasing HODLing of coins. This ensures that the currency will be bought with a purpose of using and not only speculation hence reducing part of the volatility. The XEM team will however need to figure out how to completely make the coin stable to incentivize merchants worldwide to take up the technology.
This said, NPXSXEM is one of the reasons NEM (XEM) is toping the charts with the current price of $0.3427 USD per XEM showing a slight 3% gain in the last 24 hours, as the coin aims to overtake Ethereum as the world’s best smart contract platform.