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What Is Pundi X?

Pundi X (PUNDIX) is a blockchain project focused on making cryptocurrency accessible for everyday retail transactions. Founded in 2017 by CEO Zac Cheah and CTO Pitt Huang, the project's guiding philosophy is that "buying cryptocurrency should be as easy as buying a bottle of water." To achieve this, the team developed XPOS, a point-of-sale (POS) device that enables brick-and-mortar merchants to accept cryptocurrency payments alongside traditional payment methods. The XPOS devices have been deployed in various countries across Asia, Africa, Europe, and South America, with an ambitious target of distributing over 100,000 devices globally.

The XPOS device is roughly the size of a standard contactless payment terminal and allows merchants to accept Bitcoin, Ethereum, and various other cryptocurrencies as payment for goods and services. Customers can pay using a crypto wallet app or an XPASS NFC card, which functions like a contactless payment card linked to a cryptocurrency balance. The XPASS card system includes a main card for daily transactions (containing encrypted private key information) and a separate security card used only for activation and recovery. The system handles the conversion process, making it straightforward for merchants who want to accept crypto without dealing with the technical complexity of blockchain transactions. The XPOS also supports traditional mobile payment systems such as Alipay, consolidating multiple payment channels into a single device.

Before launching Pundi X, the team built Pundi-Pundi, a cashless payments application that generated over 100,000 downloads and onboarded more than 500 merchants in Indonesia, providing valuable experience in retail payment infrastructure. The team's initial focus on Southeast Asia was strategic: the region has a population of over 650 million people, and a large percentage of the population remains unbanked, creating an opportunity for cryptocurrency to serve as an alternative financial system. Indonesia, with 250 million people and the largest population in the region, served as the initial deployment market before expansion into Thailand, Malaysia, Singapore, Japan, South Korea, and beyond.

The project raised $35 million in its January 2018 ICO, which sold out in under 90 minutes. The original token was called NPXS (later PXS on Ethereum), but in 2021 the project conducted a major token consolidation, swapping NPXS to PUNDIX at a ratio of 1000:1. This swap reduced the total supply dramatically and simplified the token structure, making it easier for exchanges and wallets to support the token. PUNDIX is used for transaction fees on the XPOS network, staking on the Function X blockchain, and governance participation.

Pundi X is part of the broader Function X (f(x)) ecosystem, a decentralized internet and blockchain platform. Function X includes FXCORE, its own blockchain built on a Proof of Stake consensus mechanism, a decentralized file storage system, and a decentralized operating system for devices. The vision extends beyond payments to building a fully decentralized infrastructure where devices like the XPOS can operate on decentralized networks rather than relying on centralized servers. The Function X blockchain supports validators who stake tokens to secure the network and participate in governance. The project's leadership team includes Constantin Papadimitriou as President Advisor, who founded two of Indonesia's largest fintech companies (Infinetworks and E2Pay), and David Ben Kay as chief legal counsel, formerly general counsel at Microsoft China and an advisor and board member of the Ethereum Foundation.

The XPOS devices were integrated with both the Ethereum and NEM blockchains early on, with NEM being particularly popular among Asian financial institutions. The team positioned XPOS as superior to Bitcoin ATMs, citing lower cost, more compact size, more services, and higher mobility. Mass production of XPOS devices began in February 2018, with distribution across more than 12 countries in the initial deployment wave.

Getting Started With Pundi X

  1. Step 1: Learn About the Ecosystem. Visit pundix.com and functionx.io to understand the full range of products and services, including XPOS, XPASS, the Function X blockchain, and the overall vision for making cryptocurrency payments accessible at physical retail locations.
  2. Step 2: Set Up a Wallet. Download the f(x)Wallet to manage PUNDIX tokens and interact with the Function X ecosystem. PUNDIX is also available as an ERC-20 token, so Ethereum wallets like MetaMask are compatible. The f(x)Wallet supports staking and governance features natively.
  3. Step 3: Acquire PUNDIX Tokens. Purchase PUNDIX on a supported exchange and transfer to your wallet. Tokens can be staked on the Function X network to earn rewards and participate in governance, or held as an investment in the ecosystem's growth.
  4. Step 4: Explore Use Cases. If you are a merchant, explore the XPOS device for accepting cryptocurrency payments through a single terminal that also supports traditional payment methods. If you are a developer, look into building on the Function X blockchain and its decentralized infrastructure.

How to Get a Pundi X Wallet?

f(x)Wallet

The f(x)Wallet is the official wallet for the Function X and Pundi X ecosystem. It supports PUNDIX, FX, and other tokens in the ecosystem, with built-in staking, delegation to validators, and governance voting features. Available on iOS and Android.

MetaMask

PUNDIX is available as an ERC-20 token on Ethereum and can be stored in MetaMask. Add the PUNDIX token contract address to MetaMask to view and manage your tokens. This is the simplest option for users who already use Ethereum-based wallets.

Hardware Wallets

Ledger supports PUNDIX as an ERC-20 token, providing secure cold storage for long-term holders. Connect your Ledger to MetaMask for convenient management with hardware security while keeping private keys offline.

Pundi X Resources

How to Buy Pundi X?

PUNDIX tokens are available on centralized exchanges including Binance and Gate.io. Create an account, complete verification, deposit funds, and trade for PUNDIX. Note that the old NPXS token has been fully deprecated in favor of PUNDIX following the 2021 token swap.

For decentralized options, PUNDIX can be traded on Uniswap and other Ethereum-based DEXs by swapping ETH or other ERC-20 tokens. The token is also available on the Function X decentralized exchange for users already within the f(x) ecosystem.

Latest Pundi X News

Pundi X continues to expand its XPOS merchant payment network while developing the Function X ecosystem. The project has been working on strengthening the Function X blockchain infrastructure, growing its validator network, and pursuing partnerships to bring cryptocurrency payments to more physical retail locations worldwide. With the NPXS-to-PUNDIX token consolidation complete, the team remains focused on its core mission: bridging the gap between cryptocurrency and everyday commerce by making crypto payments as simple and accessible as traditional card payments at the point of sale.