The firm PundiX Labs confirmed that it will join the adoption of bitcoin as legal currency in El Salvador, which took place from a law enacted on Tuesday, June 8, 2021. The technology company will provide 100 points of sale as a donation so that merchants can accept payments with the cryptocurrency.
The announcement was first made known by Zac Cheah himself, founder and CEO of PundiX, by posting on Twitter. Subsequently, the person in charge of International Technological and Economic Affairs of El Salvador in the United States, Mónica Taher, replied the news through a publication on the same social network.
According to the official PundiX site, the points of sale (also known as POS in English, for the acronym of Point of Sale) have a minimum cost of $ 499 and have no monthly maintenance fee; there is also a cheaper model whose price starts from 270 dollars.
Therefore, the firm’s donation would be between USD 27,000 and USD 49,900, depending on the model provided to merchants. Regarding the method of distribution of the devices, details have not yet been provided. It has also not been reported when they will begin to be delivered.
As Cheah’s message expresses, the intention of the company is to contribute to the “quick and easy” adoption of bitcoin in El Salvador. For her part, the Salvadoran official thanked the company for its initiative, since it allows “empowering entrepreneurs” in the country.
Far from settling for this, the CEO of PundiX posted another message in the early hours of Wednesday, June 9. In this case, promised to donate another 100 devices for cryptocurrency charges “To the government of the next Central American or Latin American nation that joins the revolution.”
Zac Cheah doubled down to promote bitcoin adoption in other countries. Source: Zac Cheah / twitter.com
The legalization of bitcoin as a currency in El Salvador was completed in the last hours of Tuesday, as reported by CriptoNoticias. The approval was by a qualified majority in the Congress of the nation; 62 of the 84 deputies voted in favor of the project, which was presented by President Nayib Bukele himself for express treatment. The president had released the news on Saturday, June 5 at the Bitcoin Conference 2021, held in Miami.
PundiX, a benchmark for bitcoin payments in Latin America
Zac Cheah has publicly expressed his appreciation of these types of adoption initiatives. He makes it more than clear on his Twitter profile: for example, he retweeted a post by a user who said: “The #LeyBitcoin will make El Salvador a pioneer among bitcoin nations. It is a revolutionary act. We are fortunate to witness this historic moment and to be a part of it.
However, its arrival in the different countries of America was already planned since 2019, when it planned to expand to Argentina, Brazil and Colombia, in addition to Venezuela. Today, the company has a headquarters in São Paulo, Brazil, operates throughout Latin America and even added in 2020 the alternative of processing payments with PayPal, as reported by this medium.