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Date:
26th Oct 2020
Author:
CryptoAltum Research Team

DASH Accepted in all Excelsior Gama Supermarkets in Venezuela

Customers of Excelsior Gama Supermarkets in Venezuela can now pay in DASH marking the first deal between the chain and a cryptocurrency firm. CryptoBuyer and Megasoft will be facilitators, enabling clients to pay for goods and services at any of the 24 branches.


Details: 

The economy in Venezuela is in shambles and crypto is now a shield against hyperinflation that has seen the local currency reduced to worthless paper. DASH, Bitcoin, and other coins are now the medium of exchanges and stores of value. DASH is prominent and popular in the country thanks in part to its settlement speed, cheapness, and how widespread it is in the country. The announcement helps in the adoption and use of DASH and crypto in general, a move that’s bullish in the medium and long term.


Impact on the DASH Price: 

Bullish. Through the partnership, users have more avenues for settling. By accepting Dash, the supermarket is not only teaming up with a partner with a presence in the country but its customers will benefit from convenience, a relief in a country ravaged by hyperinflation, rendering local fiat worthless.


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