Cryptocurrency Exchange BitINKA Integrates Dashbr>
Latin American cryptocurrency exchange BitINKA has added Dash to its cross border payments and remittance platform, InkaPay. Dash is the tenth-largest cryptocurrency by market capitalization. Dash’s market cap currently amounts to $8.5 billion USD.
Founded in 2013, BitINKA is designed to facilitate cryptocurrency purchasing and selling across Latin America. The company provides a platform for users without any prior knowledge about cryptocurrencies. BitINKA currently offers services to Argentina, Bolivia, Brazil, Chile, Colombia, Spain, Peru, Venezuela, and the United States. It offers bitcoin, Ripple XRP, ethereum and Litecoin trading in native currencies.
The partnership with Dash will allow citizens across Central and South America to buy and sell the cryptocurrency using their local fiat currency. Customers will be able to be paid in Dash and immediately convert into other digital currencies. It will also provide citizens of Latin American countries, which are suffering from economic turmoil, a decentralized alternative to government-issued banknotes.
Ryan Taylor, CEO of Dash Core, said that there are tremendous benefits to the increasing use of digital currencies to developing countries. He claimed that transaction fees on the Dash network are incredibly low compared with other digital financial services. Even small amounts of transaction savings can make a real difference to the economies of developing markets. More importantly, developing countries are frequently burdened with some of the highest rates of inflation.
“So far, digital currencies like Dash have proven to be a superior store of value compared with consistently devaluing national currencies,” said Taylor. “Combined, this stability can provide significant benefits to users and the economy as a whole to improve lives. As Dash continues to grow in relevance throughout the region, we think BitINKA can offer much needed access for users. We plan to continue exploring new ways for Dash and BitINKA to collaborate further across the full suite of services BitINKA offers.”
“BitINKA is making it possible to use Dash with local currencies that previously did not have direct access,” said Fernando Gutierrez, Head of Legal at Dash Core. “Latin America is especially important for us because many countries tend to have weak currencies, and people are increasingly aware of the importance of access to digital currency.”