Dash and CoinCola have signed a partnership to allow local clients to buy and sell Bitcoin using fiat currencies. CoinCola has decided to land in Venezuela working side by side with Dash. The popular cryptocurrency is widely used in the South American country in order to process payments.
CoinCola and Dash Sign Partnership to Operate in Venezuela
The crypto exchange CoinCola is based in Hong-Kong and offers peer-to-peer over-the-counter (OTC) trading. So as to increase the flow and accessibility of digital currencies in the country CoinCola partnered with Dash.
In this way, the company will be offering Dash in its trading OTC platform. Additionally, there will be a 0% trading fee for all Dash transactions performed until October 31st, 2018. Users that refer the platform will be able to earn 50% commission for all the trades completed.
CoinCola founder and CEO, Allan Zhang, commented that they perform over 100,000 transactions every month. At the same time, he informed that they are proud of offering Dash to Venezuelan users.
Allan Zhang commented about it:
“CoinCola is averaging 100,000 transactions every month on our platform. We are the second largest public OTC platform in the world by transaction volume and this time 95% of total transactions are from Asia. With our partnership with Dash, we will be truly global. We decided to partners with Dash because it is the most efficient digital currency for payments, offers the lowest fees, and provides ‘InstantSend’ technology.”
Dash is one of the most used cryptocurrencies in Venezuela. As mentioned by Zhang, with its InstantSend feature, users can pay for goods and services in the country. Venezuela is experiencing an economic crisis that has totally destroyed the local fiat currency. The inflation is expected to reach 10,000,000 this year, and virtual currencies are helping the population.
The country has more than 1,450 merchants accepting Dash. Furthermore, the Dash Treasure DAO has already granted $33 million dollars of Dash since 2015 to the country. CoinCola and Dash want the country to continue its path towards virtual currency adoption.
ConCola OTC allows users to purchase Bitcoin (BTC), Ethereum (ETH), Dash, Litecoin (LTC), Ethereum (ETH), Tether (USDT) and Bitcoin Cash (BCH) in local currency.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.