The crypto payments and point of sale project Pundi X reported a historic moment for the adoption of blockchain as the recent partnership with Dubai’s official government credit bureau and regional distribution partners ebooc & loyalty labs gives an opportunity for Dubai to offer digital payments on Pundi X technology.
The partnership is oriented into bringing digital payments to the public sector. Pundi XPOS will be implemented to hundreds of emcredit, the UAE’s official credit bureau and a subsidiary of the government of Dubai, storefronts across the city to allow consumers to pay bills, school fees and for utilities using digital currency.
The payments will be made via emcash — Dubai’s digital currency launched by emcredit, a state-backed subsidiary of the Dubai Department of Economic Development.
Payments will be made via a bespoke Pundi X POS device created for ebooc fintech & loyalty labs for the exclusive use of emcredit with their branding will be dedicated to running a stable, digital equivalent of the UAE dirham (AED).
Pundi X CEO and co-founder, Zac, said:
“Bringing blockchain-based payments technology into the government sphere is a major development for the technology, but to be able to bring it to one of the great cities of the world and the most advanced economy in the Middle East makes today a historic moment for the real-world application of a technology that has promised so much potential until now. We are very proud to partner with emcredit and to support its vision for supporting its customers through technological innovation”.
Today’s announcement confirms Dubai’s status as a global blockchain innovation centre and the first global capital to afford citizens the option to make essential payments on a digital currency.
Pundi X is also a creator of NPXSXEM, a NEM mosaic token built on NEM blockchain.