September 18, 2020

Traki chain stores accept cryptocurrency in Venezuela

Traki chain stores accept cryptocurrency in Venezuela

Traki, one of the largest supermarket chains in Venezuela, announced the addition of a payment option for goods in cryptocurrencies such as Bitcoin (BTC) and BinanceCoin (BNB).

According to a posting on Thursday, Singapore-based blockchain startup Pundi X added this feature to the terminals of 49 Traki stores.

Traki customers can now purchase itemsessentials for one of the 10 cryptocurrencies offered by the service: Bitcoin (BTC), Ethereum (ETH), BinanceCoin (BNB), DAI, Digix (DGX), NEM (XEM), KuCoin (KCS), Kyber Network (KNC) and Pundi tokens X - NPXS and NPXSXEM.

Venezuelan hyperinflation situation and shortageCash makes cryptocurrencies “a necessary form of commercial trading and an ideal way to protect the value of liquid assets,” says Pundi X.

Company representatives added that retailers 30countries, including Argentina, Australia, South Africa and Uganda, use cryptocurrencies to pay for products, so by 2021 they plan to bring more than 100,000 devices to the market.

Back in October, Pundi X introduced a blockchain phone called XPhone, which is expected to be released to the market in the fourth quarter of this year.