Cryptocurrency Exchange Mercury Cash Adds Dash Supportbr>
Cryptocurrency exchange Mercury Cash has added support for Dash trading in its platform.
Headquartered in Orlando, Florida, Mercury Cash is a trading platform for cryptocurrencies, aimed to create a regulated bank for the new digital generation. The company’s goal is to develop financial solutions for the common citizens to excel their financial capacities. Mercury Cash holds a Money Transmission License (MTL) in Florida, and allows access to US cryptocurrency users, as well as international users.
Mercury Cash will offer Dash along with ethereum to buy and sell via debit and credit card. Over 50 percent of Mercury Cash’s current user base is in South America. According to the company, demand for cryptocurrencies in countries like Venezuela is soaring as their fiat currency has failed in light of the disastrous government policies.
“Due to the constant inflation, people are seeking the opportunity to buy Dash and secure their money in cryptocurrencies instead of fiat, which is extremely risky,” said Mercury Cash founder and CEO Victor Romero. “The same holds true in other South American countries that suffer economies prone to inflation, which is almost always an issue in developing economies. I have a strong feeling that cryptocurrencies will replace fiat currency in the long run. At least 80% of the transactions will be in cryptocurrencies rather than fiat. We have the responsibility to protect the customers that want to use cryptocurrencies.”
Romero added that they decided to integrate Dash over bitcoin because they know Dash has a vast potential for scalability and an already functioning instant payment network.
“For example, if you’re going to McDonalds and order a burger, you’re not going to wait over ten minutes for a block confirmation before you’re allowed to consume the burger,” said Romero. “One of the reasons I like Dash is that it works as a real payment method. It is ideal because it has InstantSend transactions and it allows many more transactions per second over bitcoin.”
Dash is the twelfth-largest cryptocurrency by market capitalization. Dash’s market cap currently amounts to $5.6 billion USD. Dash claims that after its latest network upgrade, 12.2, the cryptocurrency is about 200x cheaper than bitcoin, with eight times the capacity to verify transactions every second.
Dash CEO Ryan Taylor said Mercury Cash broadens options for Dash’s access to licensed brokerage services, especially in relation to the payment corridors between the US and South America.
“The integration with Mercury Cash will expand the geographic availability of broker services to allow us to better serve those markets,” said Taylor.