Dash Rises 30% On Partnership With KRIP Mobile
Cryptocurrencies used to skyrocket on announcement of major partnerships. However, it is not the case now as the market sentiment is overall bearish. Dash has broken the norm by rising ~30% on the announcement of a partnership with Kripto Mobile Corporation (KRIP), a Venezuela based company.
Under the partnership, KRIP would launch an exclusive range of crypto-enabled mobile phones, targeting Latin American market. The deal is expected to open a window of opportunities for Dash developers and also pave way for the use of cryptos in everyday life.
The planned mobile phones will have a pre-loaded Dash ecosystem. The Dash wallet that would be made available in the mobile phone can be used to receive and spend Dash through several partner apps such as Bitrefill, which supports prepaid SIM cards from over 600 operators in 150 countries.
Commenting on the partnership, Bradley Zastrow, Dash Core Group Head of Global Business Development, stated
“We all know that fiat payments take too long and cost too much, and that cryptocurrencies have the potential to affect real change, especially for people experiencing hyperinflation where cryptocurrency is less volatile. This first starts with the Dash community, particularly here in Caracas, who have worked tirelessly to grow the Dash ecosystem to over 800 merchants accepting Dash including locally-run locations from mainstream brands like Calvin Klein and Subway. Now with our partnership with KRIP, we will assist in accelerating this growth by giving everyone all the elements to acquire, store and spend their Dash right out of the box, including the ability to access the internet, a critical first step before any cryptocurrency adoption.”
The Caracas-based Dash “Help Me customer service”, an organization established by Dash community, will also assist Dash users with a dedicated help line. The Dash “InstantSend” technology will enable users to perform transactions at the same speed it takes to process a credit or debit card transaction, but at a fraction of cost. The partnership with Bitrefill will ensure quick and easy phone recharge and utility payments. Even purchase of gift cards for e-commerce, travel and online games will turn into a simple task.
On the subject of adoption Zastrow added;
“The road to mainstream adoption will take more than sporadic airdrops or similar giveaways. What makes the KRIP phone so unique, beyond being a great smartphone at a good price, is that it makes this user experience a central part of using a cell phone. Right out of the box, even users who have never interacted with cryptocurrencies have everything they need.”
It should be noted that KRIP mobiles are sold at a fraction of the price of brands such as Apple and Samsung. KRIP co-founder Luis Sosa said,
“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.”