Paypal's recent interest in cryptocurrencies was shrugged off as rumours by many because of its stance against cryptocurrencies in the past. But the times have changed for sure.
Pundi X has recently announced that its POS (Point-of-Sale) device XPOS is now enabled to support payments through PayPal.
This was the direct result of a Twitter poll it conducted less than a couple of months ago:
[Survey] Which mobile payment app you'd like to see #XPOS to support first? 📲— Pundi X Labs (@PundiXLabs) May 12, 2020
With a vision to make cryptocurrencies accessible to everyone Pundi X had started production of its blockchain based point-of-sale devices XPOS in February 2018. It had said that it will deploy 100,000 XPOS in over 20 countries. Today XPOS devices are available in 30+ markets.
What interests me in this news is the fact that I hold some of its NPXS coins. At one time its prices were hovering between 3 and 4 satoshi. So I used to buy it at 3 and sell it at 4 Santoshi, pocketing a nice 33.33% profit on every round trade. But probably Binance noticed my behaviour 😜 and it delisted that market. Thus I ended up holding a small bag. I didn't sell those in ETH market.
So this news excites me as I think Pundi X's XPOS merchants will get more transactions through PayPal now.
100% of Pundi X's XPOS’s revenue that is generated through transactions on the XPOS are removed permanently from NPXS token circulation. The next token burn for Q2 2020 is schedule in second week of July.
However, it seems market hasn't reacted to this news yet. So I sold some STEEM to buy some more NPXS.
I don't expect that this news is going to have any major short-term impact on the market. Nevertheless, I decided to buy some more at these prices.
Not a bad decision na?!