As the cryptocurrency market is multiplying every day, the level of its acceptance and groundbreaking achievements in Latin America has surpassed all other regions. This is why the crypto merchant program is introduced in the Latin American area. Blockchain payment solution merchant, Pundi X has partnered with MasterDAO to launch the crypto merchant program in enhancing crypto-related financial and business transactions.
The project will be giving free cryptocurrency point of sales devises known as XPOS to qualified merchants in order to aid them in accepting cryptocurrency transactions.
The XPoS or blockchain PoS is designed for payments and sale of MakerDAO’s DAI stable coin, Ethereum, and other currencies, while also giving the merchants a two percent commission on any crypto-related transactions.
The crypto merchant program will promote the partners and merchants
Pundi X and MakerDAO entered into a partnership in 2019 to enhance the adoption of cryptocurrency as well as showcasing the DAI services of the latter around the world. One of the fruits of the business is the crypto merchant program and the free blockchain PoS which will kick-start its operations in Brazil before spreading the services to other Latin American countries of Venezuela, Colombia, and Argentina.
The Brazil pilot program will witness the distribution of 100 blockchain PoS terminals for free and another 650 for other countries in the region. Prospective holders of the blockchain PoS are merchants who have been duly registered by the Brazilian Department of Federal Revenue.
In addition to this, the merchants are expected to have a physical store with a valid business address and send a picture of the store to the company as a selection procedure.
Why do Latin Americans love cryptocurrency?
The cryptocurrency market is thriving in Latin American countries compared to other parts of the world. Even the developed countries like the United States and the United Kingdom have not measured up to how South Americans have embraced the cryptocurrency revolution.
A lot of merchants and investors in Latin America now use cryptocurrency as a means of business transactions and the list is snowballing. The newly introduced blockchain PoS will further spread the use and awareness of cryptos across Latin America and further boost the credibility of the companies offering the free service.
Featured image by Pixabay