The United States and Latin America combined have become great hot spots for cryptocurrency adoption. Out of this, Latin American countries have taken a bigger bite because of the relentless updates within the cryptocurrency industry.
Dash cryptocurrency, one of the major altcoins on the charts has been a very good friend of growing economies. After enjoying great runs in countries such as Venezuela and Colombia, Dash has now set its eyes on Mexico.
Dash coin will be added to over 11,000 ATMs in Mexico creating a massive influx of crypto interest. The addition comes in the wake of a partnership between Dash Pay and cryptocurrency firm Tauros. Tauros is a known crypto remittance organization in Mexico popular for its goal to make it easy for people to buy crypto.
With the latest addition, users of the ATM will be able to buy Dash with Mexican Peso. The Chief Executive Officer [CEO] of Dash Core Ryan Taylor stated that the ‘great partnership’ will pave way for more developments in the region. He added:
“[The Bitcoin ATMs] Infrastructure that can continue growing our Latam [Latin-America] remittances strategy going forward and help expand our use for payments in Mexico, even among the unbanked. This is another great partner for Dash.”
The cryptocurrency market has stayed strong in economies with flailing economies. That was the main reason why Dash and Bitcoin became superstars in countries such as Venezuela. Earlier studies had shown that merchants in Venezuela had begun accepting Dash coin as a mode of payment for basic necessities. This decision came in the midst of the country imposing its own state-backed cryptocurrency, the Sovereign Bolivar.
Reports have also predicted that Dash cryptocurrency may have over 1 million users in Venezuela by the end of 2020. Mark Mason spotted that from May 2019 to December 2019, there was a 562 percent increase in Dash wallet usage in Venezuela. The number of devices using the Dash wallet application had risen from 7,597 in May to 50,336 in December.
Experts spotted that citizens use cryptocurrencies because of a need for transitional currency. This was to counter the insane hyperinflation rate int he country, a figure that was touted to hit a million percent by the end of 2019.
Dash and Bitcoin have been openly praised by the citizens of oppressed countries for its decentralized nature. Dash cryptocurrency can take pride in the fact that it was giving financial power back to the people rather than the government. Officials claimed that the increase in use cases will also result in an increase in its price.
At press time, Dash was trading for $115.82 with a total market cap of $1.076 billion. The 16th ranked cryptocurrency had a 24-hour market volume of $1.137 billion after a 2.13 percent hike on the daily charts.