Pundi X Labs has announced plans to bring Stellar Lumens (XLM) to retail stores in Indonesia.
Announced in a Twitter post, the move comes after the integration of the two networks late last month. The agreement says that Pundi X will be the anchor for the local currency, making it possible for business operators to make cross-border payments at better rates.
The Pundi X POS platform will also start supporting the Stellar Lumens native currency XLM. It will act as the issuer of credit to the Stellar network for all transactions on the platform using the Indonesian rupiah.
Inefficiencies in money transfer systems mean that international transactions are often made using US dollars. One aim of the partnership is to reduce these inefficiencies and encourage the use of the local currency in international trade. The use of XLM in retail stores also provides convenience for Indonesians wishing to make purchases using cryptocurrencies.
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