Dash has announced that it has entered into an exclusive partnership with Kripto Mobile Corporation, manufacturers of cryptocurrency-enabled KRIP mobile phones, to provide Latin Americans with “a new, affordable way of acquiring and using cryptocurrencies for everyday transactions.”
Crypto traders breathed a sigh of relief this morning as the market appeared to be swimming in a sea of green. Ninety-two percent of the Top 100 cryptocurrencies on CoinMarketCap are posting gains over the past 24 hours, including Bitcoin, which is up by more than four percent since this time yesterday. One of the biggest standouts, however, is Dash, which saw an overnight price jump of more than 33% in the wake of announcing its exclusive partnership with Kripto Mobile.
Yesterday began with Dash trading at around $141.33, down more than 36% from this month’s high of $222.63 on August 1. News of the partnership between Dash and Kripto Mobile broke around 10 am EST, sparking a slow but steady price increase. As word spread about the partnership, the price began to climb at a more accelerated rate, culminating in a high of $188.99 – a gain of more than 33% – in just 24 hours. At press time, prices climbed even further to trade at $198.03.
Dash and Kripto Mobile
The partnership between Dash and Kripto Mobile was officially launched at the Dash Caracas conference in Venezuela on August 25 and was announced to the cryptocurrency community yesterday via Twitter:
MAJOR NEWS – @Dashpay has announced an exclusive relationship with @KriptoMobile to provide Latin Americans with an affordable way of acquiring & using #Dash for everyday transactions. Phones are pre-loaded with complete $Dash ecosystem. 🚀🚀🚀https://t.co/XasBlsqkD1
— Mark Mason | markmason.btc (@MarkMoneyMason) August 27, 2018
Under the terms of the partnership, Kripto Mobile’s KRIP phones will come with a complete Dash “ecosystem” already installed. This includes the Dash wallet as well as the ability to easily receive and spend Dash through partner apps like BitRefill – the world’s largest cryptocurrency prepaid phone company. The phones retail for under $100 and all Latin American customers will also receive a paper wallet that is pre-loaded with Dash that they will be able to scan into their wallets and begin using right away.
Speaking about the partnership, Kripto Mobile co-founder Luis Sosa stated:
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.
The new partnership will significantly expand Dash’s user base in Latin America, providing an easy to use alternative to local fiat currencies – something that is sorely needed in Venezuela and other countries in the region hard-hit by hyperinflation.
What are your thoughts on the new partnership? What will it do for Dash adoption – and that of cryptocurrencies in general – in Latin American countries? Let us know in the comments below.
Images courtesy of CoinMarketCap, Shutterstock
