Payza, the London-based payment platform, now allows its 13 million users to spend Dash at 100,000 e-commerce retailers and exchange the cryptocurrency into 25 national currencies. Dash becomes the se
Payza, the London-based payment platform, now allows its 13 million users to spend Dash at 100,000 e-commerce retailers and exchange the cryptocurrency into 25 national currencies. Dash becomes the second cryptocurrency the company has integrated into its service, following Bitcoin.
The partnership reflects mutual strategic fit. Payza founded in 2012 to serve people denied access to traditional financial institutions. The platform provides tools to send and receive money, make online purchases, and get paid from anywhere in the world. It also offers bookkeeping and money management services. The company operates across Asia, the Middle East, Europe, and South America, with significant user bases in Venezuela, Nepal, Pakistan, Brazil, Mexico, and Haiti.
Payza customers drove the integration forward. Over recent months, users asked for Dash support, prompting the company to pursue it.
Ryan Taylor, CEO of Dash, welcomed the partnership. "Payza is an exciting partnership for Dash because our respective missions are so well aligned," he said. "Payza is supporting underbanked populations in nearly 200 countries, and the Dash network's low cost instant transactions are ideal attributes for meeting these customers' needs. Payza is also well regarded in the industry with literally millions of users and they've thus far refrained from integrating other coins across their platform."
Firoz Patel runs Payza. He explained the choice. "There are several reasons that we chose Dash to be the second cryptocurrency integrated into our platform, after Bitcoin," Patel said. "Dash boasts low network fees and fast transactions, two features that users look for in a cryptocurrency. Dash also has a vibrant and active community, especially in the developing world, which appeals to us as a company that also focuses on empowering underbanked populations. Finally, Dash is user-friendly and has a roadmap in place to further improve usability."
Dash operates as an open-source payment network built around secure, fast, and inexpensive transactions. The project has used different names, once called Darkcoin and XCoin before becoming Dash. The Evolution platform launches later in 2018, targeting mainstream audiences with new technologies and features intended to broaden appeal.
The company is pushing into emerging markets. In November 2017, Dash unveiled KuvaCash, a pilot project in Zimbabwe offering locals an alternative way to store and transfer value. In January 2018, Dash announced a partnership with Spanish startup Bitnovo allowing consumers to buy Dash at 10,000 retailers throughout Spain.
Dash currently ranks 11th by market capitalization, valued at $3.25 billion.
