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Pundi X (NXPS) Soars to Record Valuation After Breakthrough Deal With Qtum, Hiring of Chief Counsel

Word PUNDI X formed by alphabet blocks

In a deal that may prove monumental for encouraging accelerated usage of cryptocurrency worldwide, both Qtum (QTUM) and Pundi X (NXPS) achieved a key milestone in their respective timelines on Tuesday evening (PT); the result of which was partly attributable to $NXPS jumping by some 30 percent, in what was an otherwise bleak day in the crypto market.

In what was a busy Tuesday for Pundi X – an extension of popular Indonesian QR payment solution, Pundi-Pundi – they also hired an in-house chief counsel who, as an ex-Ethereum Foundation board member, is highly familiar with legal issues involving blockchain technology.

Qtum to QR

On Tuesday night, the Twitter account of Qtum tweeted this third-party link revealing that “Qtum, the first successful Proof-of-Stake blockchain,” had signed on with Pundi X, a “cryptocurrency solutions provider for retail stores,” to allow for the compatibility of QTUM tokens with “the first 4,000 point-of-sale devices that are about to be shipped across the world by Pundi X.”

These point-of-sale devices – called Pundi XPOS – are on the verge of being delivered by Pundi X to “retailers in countries including Korea, Japan, Singapore and Switzerland.” Once installed, QTUM tokens will be able to be used as remittance for goods in a retail setting, along with various other cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Achain (ACT).

Lawyer Up

In a major recruitment signing for the company behind the burgeoning NXPS cryptoasset, Tuesday also saw Pundi X announce the hiring of a new chief legal counsel – David Kay – whose thirty years’ experience in international intellectual property (IP) and investment law will help Pundi X “navigat[e] international legal and regulatory issues as it targets a global rollout of 100,000 XPOS devices over the next three years.”

Notably, Mr. Key was an advisor, and subsequently a board member for the Ethereum Foundation from 2015 through to 2016. He has helped establish over 250 Chinese-based companies, including Microsoft China in the early 1990s, before returning to join them as general counsel in 2003. Here, he “led the company’s work on IP, anti-piracy, government relations and corporate social responsibility.”

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