Turkey, July 11, 2021 /AlexaBlockchain/ – Pundi X has signed a distribution deal with OVO Dijital Servisler, a platform-as-a-solution company, to make its crypto products and services available in Turkey.
Who is Pundi X?
Founded in 2017, Pundi X is a Singapore-based blockchain solution developer. The company has developed the XPOS, a point-of-sale smart device that allows brick-and-mortar stores to transact on the blockchain. Pundi X has also been selected as one of the top 50 Innovative Fintech Startups in 2018 by KPMG and H2 Ventures, cool vendors in blockchain business by Gartner, and one of the top 10 FinTech leaders by Singapore Fintech Association.
Who is OVO Dijital Servisler?
founded in 2018, OVO Dijital Servisler is a digital wallet and loyalty solutions provider. The company also won the Gold PSM award as “Most Innovative Mobile Payment Product of the Year” in 2019 by leaving behind the biggest financial institutions. It aims to become a global player in the Mobile Payments industry by launching its patented Mobile Wallet technology for the use of end-consumers soon.
OVO holds years of experience enabling mobile payments in Turkey. Among some of their products include the oWallet which leverages Apple Wallet and Android Wallet tech to easily give insights into customer spending habits and help companies improve their relationships with their customers.
OVO-Pundi X Deal
As per the deal, the distribution of Pundi X products in Turkey will primarily focus on business owners looking to facilitate easy in-store cryptocurrency exchange. Pundi X will focus on setting up physical cryptocurrency exchange spots, where trading cryptocurrency can be performed just like a traditional money exchange.
The timing of the collaboration between Pundi X and OVO is especially apt. According to research conducted by The World Economic Forum (WEF), Turkey is the 4th in the world with 16% share in the interest for cryptocurrencies, and also the top-ranked country in the Eurozone.
Hakan Akyüz, the General Manager of OVO, emphasizes the collaboration’s compliance with Turkish rules and regulations. “Pundi X platform is fully compliant to the new crypto asset regulation announced by the Central Bank of Republic of Turkey on Apr 16, 2021,” he said. “There is [even] no need for large sums for this as there is no sub-transaction limit on the platform. In other words, consumers who are interested in cryptocurrencies will be able to visit any Pundi X point and perform crypto transactions even in small amounts like 5 Turkish lira.”
Turkish business owners will be able to use Pundi X products such as the XPOS (which are capable of enabling blockchain-based transactions with a card swipe) and the XPASS (which acts as a digital wallet for digital assets) to facilitate the ownership of crypto assets for their customers.
Businesses interested in becoming Pundi X dealers will now be able to select their preferred starter packs—including all the technological infrastructure and marketing materials. Now 100 limited spots with an offer of $1500 can be applied from pundixturkiye.com.
Distribution of Pundi X products will first aim to hit 81 cities all over Turkey, with at least one Pundi X transaction point each. In the country’s largest city of Istanbul, Pundi X aims to have at least one point for each of the city’s 39 districts.
The collaboration between Pundi X and OVO shows just how much potential there is behind cryptocurrency. The growing popularity of cryptocurrency and cryptocurrency-related services these days becoming more of a necessity than ever, Pundi X’s expansion in Turkey could set the stage for a society where people have more control over their digital assets than ever.