Spanish payment startup Bitnovo is bringing Dash to 10,000 retailers across Spain. The partnership enables shoppers to purchase Dash through coupons at stores, and through gift cards at select Carrefo
Spanish payment startup Bitnovo is bringing Dash to 10,000 retailers across Spain. The partnership enables shoppers to purchase Dash through coupons at stores, and through gift cards at select Carrefour and Media Markt outlets.
This marks Bitnovo's first cryptocurrency beyond Bitcoin. The startup, which has operated exchange and ATM services since 2015, selected Dash for its speed and minimal costs. Dash processes payments with 10 confirmations in under a minute. Transaction fees stay low enough for the coin to function as digital cash.
On Bitnovo's platform, users convert Dash to and from euros using debit cards, credit cards, or bank transfers. The company plans to launch Dash ATMs as well.
Fernando Gutierrez, head of legal at Dash, sees the deal opening doors to mainstream users. "This exciting partnership not only showcases our eagerness to bring Dash to consumers throughout Spain, but our pledge to eliminate the barriers to entering the crypto community," he said. "Bitnovo have very impressive, immediate plans to expand throughout Europe, and we plan to follow them throughout their ambitious journey."
Bitnovo operates in more than 130 countries, with existing deals that place cryptocurrency options in Media Markt and Carrefour outlets worldwide. The company is now plotting expansion into Italy, Portugal, and the United Kingdom.
Luis Vaello, Bitnovo's chief operating officer, sees the Dash partnership as a milestone. "Partnering with Dash brings us one step closer to bringing cryptocurrencies to the masses, and having such a reputable name behind our brand further adds to our promise to push boundaries and drive the crypto-community forward," he said. "At Bitnovo we strongly believe in the power of innovation and the possibilities new technologies have to transform the world we live in."
Dash ranks 11th among cryptocurrencies by market value, with a $9.7 billion valuation. The coin traded around $1,250 as of early January, having surged more than 10,000% throughout 2017. The cryptocurrency earned its reputation through swift, secure, low-cost transactions. Unlike some crypto projects, Dash operates as a decentralized autonomous organization, funding development and governance without reliance on external investors.
Dash developers plan to roll out Evolution later this year, a platform designed to make Dash transactions simpler for both consumers and merchants.
