Venezuelan Store To Launch Blockchain POS

Blockchain firm Pundi X has announced that Venezuela’s largest chain of department stores will implement the XPOS, the blockchain-powered point-of-sale device, across its 49 stores around the country.

Traki customers will be able to use various cryptocurrencies as payment options for the retailer’s products.

“Traki has been one of the early adopters of cryptocurrencies in Venezuela, which highlights its commitment to improve the traditional financial system,” Zac Cheah, co-founder and CEO of Pundi X, said in a press release. “We hope the XPOS further expands the crypto use cases that customers have come to expect from Traki.”

“At Traki, we aspire to offer the most convenient options for our customers, and cryptocurrency has proven to be an effective payment solution,” added Michael Gomez, chief of Crypto Assets department of Traki. “This partnership with Pundi X solidifies our commitment to make cryptocurrency as easy to use as fiat currency in our stores.”

So far the XPOS has been shipped to over 30 countries, with plans to send out 100,000 devices to the global retail market by 2021.

And blockchain analysis firm Chainalysis announced the launch of suspicious cryptocurrency transaction alerts in Chainalysis Know Your Transaction (KYT). It is the first compliance alerts solution available across 15 cryptocurrencies.

The alerts are designed to help compliance teams focus on the most urgent activity and enforce compliance policies while better allocating resources.

“As lawmakers and regulators focus their attention on the industry, it is more critical than ever that cryptocurrency businesses demonstrate compliance best practices,” said John Dempsey, VP of product at Chainalysis. “Every minute counts when managing exposure to sanctioned entities, hacked funds, dark net markets, and other illicit activities, which is why Chainalysis is investing in fast, actionable alerts to help our customers mitigate risk across cryptocurrencies.

Alert levels are based on factors such as category, service, direct versus indirect exposure, direction of funds, and amount. Alerts are available for all 15 cryptocurrencies, with more coming soon.


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