Pundi X Journey in 2024: Redefining Blockchain and AI Payments

At Pundi X, 2024 has been a transformative year that solidified our position as pioneers in blockchain and AI-powered solutions. We have continuously advanced our technological capabilities and market presence.

Technological Evolution

Based on merchants’ requests, we integrated and delivered Bitcoin mainnet on XPOS, demonstrating our commitment to multi-chain flexibility. We further enhanced our payments platform by adding Solana blockchain support, providing our merchants and users with expanded transaction options.

Our most significant breakthrough came with Pundi X Pay — an AI-powered payment solution developed to optimize how businesses handle cryptocurrency transactions. It offers a comprehensive ecosystem that streamlines crypto payments for merchants globally, reducing complexity and transaction friction.

Pundi X Pay: InStore QR code payment

“Our vision has always been to make blockchain technology accessible and practical for everyday businesses,” says Zac Cheah, CEO of Pundi X. “In 2024, we’ve transformed that vision into a tangible, scalable solution.”

Bring RWA to the Real World

Digital gold made it on XPOS. Pax Gold (PAXG), is a regulated digital gold token. PAXG is 1-to-1 backed by 1 troy ounce of London good delivery physical gold, issued by Paxos. The integration of PAXG on the XPOS platform signifies a pivotal step in merging the digital and physical realms of gold exchange. With this launch, users now have the unprecedented ability to effortlessly transition between the digital representation of gold and tangible gold coins on XPOS.

More Stable Coin Support

Pundi X joined the Circle Alliance Program, enabling us to add comprehensive support for USDC across our entire ecosystem, including XPOS, Pundi X Pay, and p(x)Card. USDC integration supports transactions across multiple blockchain networks, including Ethereum (ETH) and Solana (SOL), providing merchants unprecedented flexibility in cryptocurrency payments.

In a major step towards enhancing blockchain adoption in Indonesia, Pundi X announced the integration of IDRX, a stablecoin on Base blockchain pegged to the Indonesian rupiah, into our decentralized wallet and merchant solutions.

At Pundi X, we are always working to make cryptocurrency easier to use for everyone. Therefore leading wallets including Bitget Wallet, ioPay and AQUA Wallet are officially supported on XPOS and Pundi X Pay!

Users can spend their crypto or top up crypto directly on any Pundi X merchants around the globe. Whether you want to pay for your morning coffee with Bitcoin or top up your Ethereum for future transactions, these wallets together with Pundi X Platform make it simple.

Volume Growth

XPOS footprint expanded and grew strategically. In markets like South Africa, the transaction volume achieved an extraordinary 665% increase. This growth validated our approach to focus on selected high potential local markets.

Reaching 40 million users

Revolut and Revolut X exchange listed the PUNDIX token. More than 40 million potential users will be able to know about PUNDIX and its mission.

PURSE+ browser plug-in integrate AI

The socialFi tool, PURSE+ browser plug-in, has been taken to the next level with AI integration. It is now the first-ever socialFi AI tool on X.com. Since the launch of PURSE+ in Q1 2024, this socialFi tool has gained over 25,000 users. With the AI integration, the tasks on PURSE+ also evolved.

The upgraded PURSE+ displays great differences on the tasks board from the previous version. In the new version, the tasks are layered, including basic, standard, and expert. The complexity of tasks also escalates. When a task is completed, you will be rewarded with FUGU points, which will be used to unlock more rewards.

Decentralization: Fundamental Principle

We are not just developing technology; we are creating an ecosystem that bridges traditional finance with the future of decentralized commerce.

Effective November 1st, we initiated the transition of XPOS to a fully decentralized platform that will allow XPOS merchants to manage their funds directly without Pundi X acting as a custodian. The platform is scheduled for full release in 2025.

Our forthcoming self-custodial payment platform will feature seamless integration with Alchemy Pay, enabling merchants to effortlessly perform fiat-to-crypto and crypto-to-fiat transactions. This integration reinforces our vision of bridging the gap between traditional finance and cryptocurrencies.

f(x)Wallet will be officially rebranding to Pundi Wallet. This marks an important step in creating a more decentralized and user-friendly ecosystem for self-custody and payments.

The rebranding reflects our commitment to empowering individuals with complete control over their digital assets. Pundi Wallet will continue to serve as a secure and efficient tool for managing your crypto holdings, now with a sharper focus on expanding decentralized financial solutions.

Pundi X Labs rebranded its Function X’s f(x)Core chain by following up a governance proposal to create Pundi AI and launched the Pundi AI Data initiative.

The Pundi AI team unveiled a fresh logo, symbolizing the future of decentralized AI empowerment. The updated design reflects our mission to revolutionize AI data collection and annotation through secure and transparent blockchain technology.

Pundi AI Data aims to democratize AI data contribution, labelling, and allowing individuals and organizations globally to contribute to the growth of AI data. It utilizes the blockchain to ensure transparency and fair compensation for all participants, setting a new standard for secure and efficient data labeling.

This strategic move addresses advantages of blockchain infrastructure and positions the company at the forefront of multi-chain and AI technologies.

The launch of the Pundi AI Data Alpha Testnet marked an advancement in unbiased AI data annotation. This decentralized data annotation platform sets a new benchmark for transparency and inclusivity in the AI ecosystem. We invited all to join the Pundi AI Data Alpha Testnet and explore its revolutionary capabilities. This exclusive access program offers a sneak peek into the future of AI data annotation and its transformative potential.

Unlock Exclusive Access: Whitelist Your Spot on the Pundi AI Data Platform

AI Startup PitchFest

The AI Pitch Fest was a premier event co-organized by Pundi X Pundi AI, WOO Innovation Hub, and The Generative Beings to discover and nurture the next generation of groundbreaking AI startups. After a thorough evaluation process, two companies, https://medium.com/pundix/winners-of-the-ai-startup-pitchfest-revealed-2a348459ab6d were selected based on their potential to align with and complement the Pundi AI ecosystem.

Global event participation

Looking Ahead

As we conclude 2024, we remain focused on our core mission. We are not merely developing payment solutions; we are constructing the technological infrastructure for a new economic paradigm where AI, blockchain, and commercial transactions converge seamlessly.

Our organizational journey has consistently been defined by pushing technological boundaries. In 2024, we did not just advance — we redefined the potential of crypto-based technologies.

— The Pundi X Team

Pundi X Journey in 2024: Redefining Blockchain and AI Payments was originally published in Pundi X on Medium, where people are continuing the conversation by highlighting and responding to this story.