Cryptobuyer has partnered with Venezuelan department store giant Traki and has rolled out zero-fee Dash buying on its ATM network.
To allow foreign Venezuelans to send money to their loved ones, Cryptobuyer will offer zero fee on their ATMs network for Dash transactions until May 1, 2019 @dashpay#Venezuela #Venezuelan #Panama #venezolanosenelmundo #Dash #CryptoNews #cryptocurrency #cryptocurrencynews pic.twitter.com/9QuMle2UrC
— Cryptobuyer (@cryptobuyer) March 28, 2019
One of Latin America’s major exchanges, Cryptobuyer currently supports Dash, Litecoin, and Bitcoin, and operates both a network of ATMs and a merchant point-of-sale solution. The company recently announced a promotion for its ATM service, offering zero-fee Dash buying to facilitate the acquisition of Dash for use as remittances to Venezuela. Partnering with Cryptobuyer is Venezuelan department store Traki, which accepts cryptocurrencies including Dash, and will use Cryptobuyer’s point-of-sale solution. This partnership will allow Dash to be bought with no fee in Panama and sent to Venezuelans, who will then be able to buy a wide variety of products with it directly at Traki.
Ryan Taylor, CEO of Dash Core Group, believes that this initiative will solve a critical barrier to adoption in the one country where Dash has seen the most:
“Dash usage is growing at a rapid rate in Venezuela, as it provides an alternative that is a more reliable payment method and store of value. We’ve anticipated this initiative from Cryptobuyer, as it provides the everyday person a seamless and efficient way to access Dash and lowers barriers to entry.”
The Dash integration through Cryptobuyer will initially be run at Traki’s El Recreo store, with plans to expand to all 46 stores later this year. The zero-fee Dash ATM promotion will run until the first of May.
Dash’s Latin American explosion in Venezuela and Colombia
Dash is at the forefront of cryptocurrency’s rapid expansion in the Latin American region. According to Cryptobuyer CEO Jorge Farias, this region is significantly ahead of the global average in terms of using cryptocurrency as an actual form of payment:
“The usage of Dash in South America is just another example of how this region is ahead of the curve in adopting cryptocurrency as a real method of payment. The whole team at Cryptobuyer is very happy to continue reinforcing this collaboration in each and every one of the services that we launch, and in the markets in which we are expanding to including Mexico, Argentina, and Central America.”
Presently, Venezuela, which has experienced severe economic issues including hyperinflation and blackouts, is a premier Dash hotspot, with a current 2,431 Dash-accepting merchants listed on Discover Dash. Colombia has made significant strides in merchant adoption as well, with a present 327 Discover Dash listings.
Reducing pain points in acquiring Dash to complement high merchant adoption
With global merchant adoption for Dash at a high at at estimated 4,900 or more merchants, the focus turns to expanding options for consumers to acquire, and therefore spend, Dash. Last fall, strategic Dash partner Uphold integrated its service directly into the main Dash mobile wallets, providing an easy method for customers to acquire Dash in the same app they use for storage and spending. Bitnovo integrated Dash Text into the platform, allowing customers in Spain to buy vouchers and redeem them direct to a Venezuelan mobile phone number, providing an easy remittance system to even those without internet-capable phones. Promotions such as Cryptobuyer’s ATM network discount further enable and encourage remittances and acquiring Dash for the purposes of spending at large retailers.