Caracas, Venezuela — August 27, 2018 — Dash, the top digital currency for payments and e-commerce, has announced an exclusive relationship with Kripto Mobile Corporation (KRIP), a leading mobile brand of cryptocurrency-enabled phones, to provide Latin Americans with a new, affordable way of acquiring and using cryptocurrencies for everyday transactions. The phones come pre-loaded with a complete Dash ecosystem, including the Dash wallet, the ability to get Dash, and also spend through partner apps like Bitrefill, which is the largest cryptocurrency prepaid phone company in the world. The partnership was officially launched live on August 25th at the Dash Caracas conference in Venezuela.
“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,” said Dash Core Group Head of Global Business Development Bradley Zastrow. “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.”
KRIP phones include, for all of Latin America, a paper wallet which will come with Dash already preloaded for users to scan and upload into their new Dash digital wallets. From there, users can use their phones to quickly and easily send or spend their Dash as they see fit, without exposing themselves to the impacts of hyperinflation, the need to physically visit bank branches, the security risks of carrying large amounts of cash, or the fees associated with fiat payments. Combined with the Caracas based Dash Help Me customer support service, a Dash community-created organization, KRIP phone users will also have access to a dedicated support line should they have any questions or issues when using their phones.
Zastrow continued: “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, and by working closely with the Dash community and Dash Help Me, new users have the necessary support structure in place should they need assistance. The critical element to moving to mainstream is the need for removing the friction that exists today with the cryptocurrency experience. We’re doing that with the KRIP phones.”
Dash has already proven to be the leading cryptocurrency-powered payments alternative in Latin America, with more than 800 merchants in Venezuela alone accepting Dash at the Point of Sale and online. Its InstantSend technology allows residents to pay for goods in the same time it takes a credit / debit card transaction to process, and at a fraction of the cost for the merchant. And with the new KRIP phones, users will be able to take advantage of this growing ecosystem without any prior experience using cryptocurrencies in daily life.
As part of the end-to-end Dash experience, users will have access to Bitrefill’s service for buying digital goods such as phone refills, bill payments and gift cards for e-commerce, travel, and online games. Having access and being able to transact with these services near-instantaneously with Dash, rather than traditional online payments options that can take several days to process fully, can be critical in markets where local currency fluctuations can rapidly diminish the value of the transaction by the time the purchase is final. And while the phone will allow for easy spending in Dash at the point-of-sale, for a limited time users paying for Bitrefill with Dash will receive a 10% discount on all purchases.
Luis Sosa, KRIP co-founder, 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.”
KRIP phones are now available across Latin America, retailing at under $100. Additionally, KRIP and Dash Core Group will be holding a monthly sweepstakes for the where KRIP users will be eligible to win Dash each month. For more information on the monthly sweepstakes, please visit https://www.kriptomobile.com/.
