Dash launches payments service in Venezuela

Cryptocurrencies continue to be deeply embedded in the lives of Venezuelans. Privacy-focused cryptocurrency project Dash has announced the launch of Dash Text, an SMS-based payments service in the Southern American nation. Dash text will help make cryptocurrency transactions more accessible to the country’s citizens by reducing the dependency on smartphones.

The Venezeulan economy has been struck by hyperinflation and smartphones are seen as a huge barrier to adoption to the majority of its impoverished citizens. People in the country required an easy and cheap way to send money, and Dash is trying to build a mechanism for those without access to smartphones and internet.

To register for Dash Text, Venezuelans need to send an SMS with the word ‘DASH’ to 22625, followed by another SMS with the word “CREAR,” which will create their Dash wallet. Once the wallet is created, users can easily send and receive Dash through SMS. The service is currently in beta and is being offered by Venezuelantelcos Movistar and Digitel. Dash has partnered with BlockCypher, a company focused on building the infrastructure fabric for blockchain applications, for this project

Venezuelan citizens have taken to cryptocurrencies in a big way, after its own fiat currency Bolivar was severely devalued after a series of questionable government decisions. Dash itself is being used prominently by many retailers in the country.