Comments (0) Blockchain, Cashless, Cryptocurrencies, POS, mPOS and online acquiring

Digital currency Dash comes to Shake debit cards


By Finextra

Dash, the superior alternative to Bitcoin, today announced a partnership with debit card innovator Shake that will allow customers to purchase goods and services from millions of merchants across the world.

The partnership is yet another example of Dash’s unstoppable march toward adoption as a mainstream currency, solving an urgent concern for cryptocurrencies by making them useful for purchasing products or services offline.

Dash holders can now “top up” virtual or physical Shake Debit Cards and make purchases at any merchant accepting EUR and USD through Visa. Once topped up, the Shake Debit Card allows users to spend their Dash while paying merchants with their preferred fiat currency. As a result, consumers will be able to shop virtually anywhere while spending the world’s most advanced digital currency.

Dash VP of Business Development Daniel Diaz said, “This is a very exciting financial option for the Dash community. Our growing user base will now be able to keep their money in Dash and use their Shake Debit Card for common day to day expenses, regardless of the merchant accepting virtual currency or not. The addition of Dash to the Shake debit card is also one of the first commercial applications to take advantage of Dash InstantSend technology.”

CEO of Shake Jean Amiouny said, “Our collaboration with Dash heightens Shake’s user experience. Dash’s InstantSend technology, which is becoming extremely popular, enables top-ups to your debit card in seconds. We’re making crypto useable in everyday transactions. Imagine being able to travel the world and spend money like a local anywhere you go. No foreign exchange fees, no wire transfer fees, and no account blocking.”

The Shake integration follows Dash’s initiative to provide the community with alternative ways to use Dash, particularly in countries suffering from unstable economies or those with little or no access to centralized banks.

Amiouny added, “When people sign up to Shake, a virtual or plastic debit card denominated in USD or EUR is sent in the mail. We charge a small fee for the plastic card; the virtual card, downloadable on phone, is free. Our tap & pay mobile app allows users to pay using their Android phones at any contactless terminal.”
With a market cap of over $80 million, Dash is currently sits as the 7th most valued cryptocurrency in the world. Named for their rapid, industry-leading transaction times, Dash is managed by a self-funded, decentralized, self-governed organization, and can be held, spent, and received on a multitude of platforms.

“Partnering with Shake is a great solution for people whose local currency suffers from hyperinflation, are unbanked or just want to be their own banks. People can make the decision to opt-out of their failing financial systems without having to wait for merchants in their location to do it. In turn, the barriers of entry into the digital currency ecosystem are lowered, making virtual currency safer to hold,” noted Diaz.

Shake has been labeled a better alternative to commercial payment giants like Android Pay and Apple Pay because it makes consumer transactions easier while connecting merchants to the rising market of cryptocurrencies.

First appeared at Finextra

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