We are excited to announced that XEM, the native currency of NEM blockchain operated by non-profit organization NEM Foundation, will be available on Pundi X payment platform from July 1, 2019. The team is also in the progress of integrating Mosaic token support on its Open Platform.

“Our mission of making cryptocurrencies and blockchain technology more accessible has taken a giant step forward with this implementation,” said Zac Cheah, Co-Founder and CEO of Pundi X. “We look forward to seeing how NEM blockchain developers will expand the use cases of their tokens when they sign up with Open Platform in the near future.”

XEM will become one of the payment options on Pundi X’s global ecosystem. This includes merchants equipped with the XPOS, the first blockchain-based point-of-sale device that is currently present in over 25 countries; the XWallet mobile app, which has over 200,000 registered users; and the XPASS card, which allows users to transact with their crypto assets on a physical card.

“We’re excited to work with Pundi X in widening our community of developers to expand the quality of their tokens,” said Alexandra Tinsman, President of the NEM.io Foundation. “Pundi X’s mission to make blockchain technology have a profound impact on people’s lives is one that we believe in.”

Expanded use cases

NEM is the developer of XEM, one of top 20 cryptocurrencies in the world by market capitalization. With the integration of the NEM blockchain into the Pundi X ecosystem, XEM joins other prominent cryptocurrencies such as BTC, ETH, BNB, KCS, KNC, and Pundi X’s own token, the NPXS, as a payment option that can be used in XPOS devices, XPASS cards, and XWallets around the world.

In the near future, other tokens developed on the NEM blockchain can join XEM later by signing up with Open Platform, which Pundi X launched recently in May for token developers who want to be part of its global payment ecosystem. Aside from NEM blockchain tokens, Open Platform also supports ERC 20 tokens as well as BEP2 tokens.

“With more and more tokens being supported by Open Platform, we expect our XPOS devices, XPASS cards, and XWallet app will introduce the widest variety of major cryptocurrencies to individuals all over the world,” said Cheah.

About NEM

Established in 2015, NEM aims to integrate blockchain technology into many use cases on the enterprise level. Through its smart asset system, clients adopting the NEM blockchain can customize the platform as they see fit. NEM has continuously rolled out updates to improve the functionality of its blockchain, having recently released the Catapult update earlier this year.

For more information, please visit https://nem.io.