Dash Announces An SMS-Based Crypto Transaction Service For Venezuela

By Kapil Gauhar

Dash, a crypto project, has launched a text-based crypto payment service, Dash Text, for Venezuelan users. Dash Text builds on its dependably strong presence in the crypto dependent nation. In its announcement of this week, the firm said that Dash Text kills the need for Venezuelan users to keep smartphones with internet access to carry out crypto payments, which has been a major historical barrier to the adoption in the impoverished country suffering from hyperinflation.

Led by a few months of hyperinflation that have given the bolivar practically worthless, Venezuelans have frequently turned to digital currencies as a solution, since a series of well-publicized incidents have illustrated it.

Dash Text is seeking to build on the success that it has recorded in cashing in on the latest trend by targeting thousands of millions of Venezuelans who aren’t able to partake in the crypto economy as they don’t own smartphones or they can’t access the internet. The solution to this issue was developed in partnership with BlockCypher, that is specialized in blockchain solutions as well s blockchain agnostic products which are proven helpful for the users to engage with multiple cryptocurrencies via one single platform.

While speaking about the unique demand which gave rise to Dash Text, the Global Head of Business Development at Cash Core, Bradley Zastrow said –

“Venezuelans living abroad send an estimated USD 2 billion back home in remittances. This process often takes too long and costs too much, making it a huge pain point for many users. With Dash Text, we are providing real solutions that address real problems. People need easy and cheap ways to send money home, and we’ve done it in a way that expands the Dash ecosystem to those without smartphones! Dash Text offers the perfect solution to ensure that everyone can become part of the Dash family, regardless of what phone people own.”