Leading cryptocurrency Dash has partnered with Kripto Mobile Corporation (KRIP), allowing consumers in Latin America to purchase the digital currency through a cryptocurrency-enabled mobile phone.
There seems to be ever-increasing excitement about cryptocurrency in the region amid growing economic chaos and the highest inflation rates in the world.
With this partnership, Latin Americans will gain access to Dash’s pre-installed ecosystem, including the Dash wallet, which will be available on their KRIP devices, no matter which part of the world they reside in.
Dash has been expanding rapidly throughout many developing countries, because it can be used in international trade and remittance and partly because it is a solution to monetary issues such as weak national currency.
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Countries throughout Latin America are suffering from high inflation due to poor governmental policies. A significant proportion of the population also remains unbanked.
A recent survey showed that Venezuelan people see digital currency as a safe alternative in an economy which has enforced strict foreign exchange controls since 2003. In that country there has been an estimated inflation rate of 9000 percent over the past calendar year.
Recent data from VeneBloc pointed out that Venezuelans’ Bitcoin trading volume has recently jumped to the equivalent of $1.009 million.
Bradley Zastrow, Dash Core Group Head of Global Business Development, commented: “What makes the KRIP phone so unique, beyond being a great smartphone at a good price, is that it makes this user experience a central part of using a cell phone. Right out of the box, even users who have never interacted with cryptocurrencies have everything they need, and by working closely with the Dash community and Dash Help Me, new users have the necessary support structure in place should they need assistance.”
“We are seeing an incredible transition period in Latin America with those who are unbanked, underbanked, or simply do not want to use the traditional banking system. Combining our accessible, affordable phones with Dash’s InstandSend transaction capabilities and low fees will provide a myriad of benefits to these communities. And with the addition of Bitrefill and other Dash apps, such as the Dash wallet, to our phones right out of the box, there’s simply no easier way to start using cryptocurrencies like Dash in everyday life,” added Luis Sosa, co-founder of KRIP.