Dash and BitINKA, a Latin American cryptocurrency exchange, have announced the DASH cryptocurrency will soon be integrated into the BitINKA exchange and remittance platform, allowing citizens of 12 Latin American countries to buy and sell the digital currency. The announcement comes as inflation in Venezuela set records in 2017 and rose as high as 21 percent during November in Argentina. Dash offers an alternative to government backed currency with fast, secure, low fee transactions.
Fernando Gutierrez, head of legal at Dash Core, said in a statement, “BitINKA is making it possible to use Dash with local currencies that previously did not have direct access. Latin America is especially important for us because many its countries tend to have weak currencies, and people are increasingly aware of the importance of access to digital currency.”
BitINKA provides exchange into digital currencies from more than nine different fiat currencies across Europe and the Americas, and aims to expand deeper into Europe and Asia in 2018, the company said. From January 25th, BitINKA will also add Dash to the cross border remittance platform InkaPay and debit card service.
Bradley Zastrow, director of global business development at Dash Core, said in a statement, “The remittance market into South America is huge – Brazil and Colombia alone are estimated to reach $8.2 billion in 2017 according to the latest forecasts from the World Bank. Yet these payments are often attached to high fees, less than favorable exchange rates, and long wait times. We have seen the negative impacts high inflation can have on people and entire economies. Dash offers solutions to both these issues through its low transaction fees, InstantSend functionality, and its historically strong store of value.”
To learn more about Dash, visit www.dash.org/.
To learn more about BitINKA, visit www.bitinka.com/.
Photo of Caracas, Venezuela, by Paulinho Moran, CC BY-SA 2.0.
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