The Wanchain Foundation is building the blockchain infrastructure to power the rapidly growing world of Cross-Chain decentralized finance (DeFi). The Foundation aims to allow for the seamless flow of assets between blockchains where they can be transacted with freely and employed in a wide variety of single chain and multi-chain decentralized financial applications. The company is part of the Blockchain Interoperability Alliance and advocates for interconnectivity among individual blockchain networks.
According to Wanchain CEO and founder Jack Lu, the integration is a big leap toward easing cryptocurrency into the mainstream. “It’s the first time in history that we’re seeing decentralized proxy-token forms of Bitcoin, Ethereum, and EOS easily tradable across different networks,” he said. “Considering also factors such as the COVID-19 pandemic and concerns over global economic inflation, we really feel that now is the time for cryptocurrency to take center stage.”
The integration of Wanchain’s cross-chain functionality is especially useful for both shoppers and merchants who would like to leverage assets and utilities from multiple blockchains while out shopping. With only their smartphone and Wanchain’s interoperable technology, shoppers will be able to easily utilize assets and applications from multiple different blockchains while out and about. Merchants, on the other hand, can accept a wide range of assets from different blockchains without needing to worry about whether they have the right software for each different blockchain.
Though the integration of Wanchain is a new development for Pundi X devices, this isn’t the first time the companies have partnered up. The two companies first partnered in May 2018 to extend cryptocurrency accessibility through XPOS and again in October 2019, when they gave people the chance to delegate WAN coins to the Pundi X validator in a recently-launched proof of stake platform.
Send and receive digital assets via Telegram chat
Aside from the XPOS and XWallet integrations, Wanchain and Pundi X are also set to roll out an adoption-ready crypto gifting system that makes it easier for users to send WAN, WBTC, WEOS, and WETH to one another. This development makes it easier for Telegram users in particular to send their favorite assets to each other.
“Spending cryptocurrency through blockchain XPOS devices facilitates ease-of-use and decentralization of cross-chain assets to the community of XPOS users located all around the world,” said Pundi X CEO and co-founder Zac Cheah. “So the two companies working together is a win-win for everybody.”
ABOUT PUNDI X
Based in Singapore, Pundi X was founded in 2017 with the aim of harnessing the power of blockchain technology to make a more secure and inclusive world. As of this writing, the company is responsible for developing the Blok on Blok phone, the world’s first fully-functioning blockchain phone and the XPOS, a point-of-sales smart device that allows brick-and-mortar stores to transact on the blockchain. The company currently has offices in Jakarta, Taipei, São Paulo, Tokyo and more.
For more information, please visit https://www.pundix.com.
Wanchain is a public blockchain dedicated to supporting transactions across different chains and offering privacy protection. Wanchain connects different chains to provide a framework for the efficient exchange of assets, paving the way for the evolution of the financial system as we know it.
For more information, please visit https://www.wanchain.org/.
SOURCE Pundi X