Pundi X (NPXS) increased 17% in value on Saturday following the addition of an NPXS/BTC trading pair on the Upbit exchange.
The sudden turnaround for the ERC-20-based token also comes amid news that Pundi X payment facilities are being deployed in Indonesia farming communities, where they will be used to redeem cryptocurrency payments for agricultural data.
Pundi X and Hara
As per the newswire announcement, Pundi X has partnered up with Indonesian blockchain data-exchange, Hara, to provide point-of-sale devices to rural farmers. Farmers are incentivized to provide agricultural data to Hara in return for Hara Tokens (HART). Pundi X is providing payment facilities to enable the farmers to cash out their Hara Tokens directly.
According to Pundi X President and Co-founder, Constantin Papadimitriou:
“A founding aim of Pundi X was to bring the benefits of blockchain technology and digital payments to the unbanked and to promote financial inclusion and independence. We are proud that the Pundi X POS will soon be rolled out among HARA’s already-impressive network of farming partners and can help facilitate their plans to better such a significant sector of the world economy and the lives of the hundreds of millions of people who depend upon it.”
With more than 50% of Indonesia’s population unbanked, Pundi X finds itself well-positioned to make a positive impression in the small, but highly populated nation. At the moment however, only one out of every two-hundred farmers in specific areas will be receiving the technology.
Hara CEO, Regi Wahyu commented on the partnership, stating:
“The addition of the Pundi X POS to our ecosystem allows us to connect another missing link, which is the processing of digital payments for the large unbanked populations in global agriculture we’re aiming to serve”
Upbit’s addition of the NPXS/BTC pair on November 9th is already making itself felt in the wider market,