Pundi X White Labels Digital Token Tech For Corporates

Blockchain payments company Pundi X has announced plans to launch Open Platform, a tool to enable developers and businesses to create blockchain solutions.

In a press release on Thursday (May 2), Pundi X said Open Platform will let developers and corporates list digital tokens, and create custom XPASS cards. These cards are physical crypto wallets that allow users to top up digital assets and make payments with sellers that use the XPOS, its blockchain-powered, wireless point-of-sale (POS) solution that supports digital assets.

“Opening our platform will enable blockchain developers and businesses to create more use cases for their digital assets,” said Zac Cheah, chief executive officer and co-founder of Pundi X. “There will be a review process to list the digital assets. Once approval is provided after the review, digital tokens will be listed on the XPOS and XWallet. These newly listed digital tokens can be purchased and stored on the XPASS, as well as [be] utilized for in-store payment transactions.”

XWallet is the firm’s mobile app that connects digital asset wallets to the Pundi X payment ecosystem for streamlined management of digital assets, including top-up and balance inquiry functionality.

Open Platform is set to go live in June, the company said. The firm’s compliance team will review all custom tokens designed on the platform.

“With the Open Platform, our XPASS offers the versatility to any companies, organizations and developers looking to white label a digital payment solution (powered by blockchain) that is fast, easy and secure,” Cheah continued. “Pundi X hopes to start serving more blockchain teams this year, and help enable them to increase the utilization of their own cryptocurrencies in the physical retail venues and stores.”

He added that the company plans to integrate other major public blockchains into its payments ecosystem moving forward.

Last year, Cheah told PYMNTS about its crypto POS technology and collaboration with ebooc fintech & loyalty labs, and with Dubai-based credit bureau emCredit.