Dash Text has expanded SMS wallet service to Spain and its Telegram integration to almost all of North and South America as the service eyes global connectivity.
HOLA ESPAÑA 🇪🇸 !! Dash Text ya está disponible en España!
— Dash Text (@dash_text) August 12, 2019
Announced earlier this week, Dash Text, the Dash-exclusive Venezuela-based mobile SMS-based wallet service, expanded its support area to Spain. This adds to previously supported countries Venezuela, Colombia, and the United States, allowing customers with mobile phones in any of those countries to easily send funds back and forth through text messages, without having to copy and paste long cryptographic addresses, and without requiring the user to possess a smartphone or an internet connection. This expansion is of particular importance since Spain and Venezuela share economic ties and respective immigrant diasporas, creating a key remittance corridor, especially highlighted by the Venezuelan economic crisis of recent years.
Dash Text’s Telegram expansion comes a step closer to instant, easy, global financial connectivity
In addition to expanding SMS support to Spain, Dash Text has also furthered its integration into the Telegram messaging app by adding Canada, Mexico, Peru, Bolivia, Argentina, and nearly every South and North American country, with Brazil as a notable exception but coming soon. Also on the roadmap for the near future are a foray into Africa with support in Ghana, Niger, and South Africa, and an expansion into Europe with the upcoming inclusion of Germany.
Announcement! Starting today, Dash Text vía Telegram is now available in virtually ALL of the Americas💪🏼
— Dash Text (@dash_text) August 14, 2019
The expansion to a growing list of countries around the world allows an increasing pool of users of any communication device, whether it be a computer or a basic phone or a smartphone, to access instant and cheap financial transactions directly in their messaging platforms. This advances Dash’s goal of becoming peer-to-peer digital cash that the whole world can use by integrating into the world’s most popular existing communication systems and allowing users to begin using Dash transactions without having to download specialized apps or learn new methods of transacting. This is especially important before the release of Dash Evolution with blockchain usernames and contact lists, as the current system of long cryptographic addresses is not very intuitive and not conducive to mass adoption of a new economic system.
The remittance game changer
Expanding easy global Dash access through Dash Text significantly changes the prospect of remittances. Current fees for remittances such as MoneyGram and Western Union can cost anywhere from 2-10%, with high minimums. Sending Dash costs a fraction of a cent and settles securely and instantly, giving a vastly superior option for sending money where Dash is widely accepted as a form of payment.
While using Dash as a payment rail, with the sender buying before sending and the recipient immediately selling, can still be more cost-effective than old forms of remittance, removing a step by building a large community of accepting merchants in the destination country can cut down on half of these fees. If a sender is paid in Dash for work or for a sale, this cuts down on the other half of the fee, with the ideal situation of a wide adoption scenario where the sender is paid in Dash and the recipient can spend it directly in their home country.