Venezuelan Company Dash Text Allows Cryptocurrency Transfers Via SMS

Dash Text, a Venezuelan company providing SMS transactions based on Dash, is now in the public beta and can be accessed via a five-digit short code on Movistar, one of the country's three major telecommunications companies. According to co-founder of Dash Text Alejandro Echeverrie, Dash Text aims to make access to Dash easier to solve problems with hyperinflation and the collapse of payment systems in their country.

Venezuelans living abroad annually send remittances to the country for about $ 1 billion. However, the recent tightening of the rules for the transfer of funds made it very difficult to send money to the country. Ernesto Contreras, business development manager for Dash in Latin America, considers Dash payments through Dash Text as the ideal solution for these barriers.

"In Dash, we understand that cross-border transactions are expensive and take a lot of time, and in Latin America there is a clear opportunity to help millions of people who need to send money home at any of the money transfer points," Contreras said.

Dash is used in trade more than any other cryptocurrency in Venezuela. Technical director of Dash Text and co-founder Lorenzo Rey plan to expand their functionality for integration directly with trading terminals so that goods and services can be purchased directly via Dash via SMS.