Dash (DASH) is playing a huge role in South American markets, especially Venezuela, to combat the effects of hyperinflation being witnessed in the country. The Dash Core group announced the partnership with South America’s largest cryptocurrency broker, Cryptobuyer. The partnership is set to increase the adoption growth rate of the Dash currency in the region and offer the users in the regional financial freedom in a decentralized cryptocurrency. Cryptobuyer will integrate Dash payment systems to Venezuelan retailer, Traki.
Dash presence in Venezuela is keeping the inflation in the country in check giving citizens a gateway to make payments in an otherwise distressed economy. President Maduro is insistent on the adoption of a national cryptocurrency, Petro, to replace the hyper inflated Venezuelan bolivar. However, the Petro coins are yet to be released for use and citizens have widely regarded the coin as a failure.
DASH adoption In South America
Bitcoin (BTC) and Dash currently lead the in adoption rates in South America with the latter aiming to increase its presence with the latest partnership. The CEO of Dash Core, Ryan Taylor, group showed much promise in Dash tackling the increased levels of hyperinflation in Venezuela and providing the users with a more reliable payment gateway. Furthermore, Ryan Taylor spoke on the partnership with Cryptobuyer saying,
“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 number of merchants accepting Dash payment in Venezuela has grown to over 2,200 showing the great impact the digital currency is having in the country. Cryptobuyer is also expanding as it plans to open more stores across South America and Central America as well. Panama citizen can now transact using Dash on a zero fee charge while purchasing items using Cryptobuyer.