Dash Thailand and Winstantpay sign partnership to enable instant payments & instant fiat settlements for Dash transactions in Asia and beyond
Bangkok, March 18, 2019
Easy and instant fiat settlements remain one major hurdle in driving mass adoption of crypto payments around the world. Many merchants are open to accepting cryptocurrencies for their business but often do not have the time to learn how to deal with the technology and the inherent foreign exchange risk from price volatility to complicated exchange processes. Dash Thailand and Winstantpay are solving these problems, offering a simple application, eliminating technology and currency risk.
Dash‘s unique ability to instantly send transactions and Winstantpay‘s ability to instantly convert Dash to a variety of fiat currencies are key to realize this solution.
Rob Grantham, Chief Executive Officer of WinstantPay, views ”the instant settlement of Dash makes a great use case for financial institutions to settle international transactions, eliminating herstatt risk.”
Merchants register; download the WinstantPay merchant wallet and link their bank account. The merchant can then enter a price in fiat, generate a QR code and enable the customer to pay in Dash for a fixed conversion rate. With the Winstantpay network running in the background Dash is automatically converted to a fiat currency of the merchant’s choice, for the exact rate shown at the purchase.
Felix Mago, Co-Founder of Dash of Thailand adds: “This partnership solves one major issue to drive real-life adoption for cryptocurrencies as this all-in-one solution perfectly integrates into the merchant’s business processes and gives them the easiest way to on/off ramp from Dash to their local currency. We expect this solution to massively drive mass adoption.
This means the merchant will receive exactly the price he has asked for, without any confusion or price differences that occur when doing the same process through a crypto-exchange. This also enables transactions to be done involving multiple countries or global merchants.
This is just the beginning, the Dash/Winstantpay partnership is working hard to connect multiple services, such as debit cards, e-commerce platforms, POS systems, the phoneless NFC wallet, crypto loans, collateral services, loyalty programs and even KYC for crypto users if required.
This partnership is one major step to solving the biggest issues for crypto payments in Asia and around the globe.
Dash is one of the top-cryptocurrencies and the number one for real life payments. Dash gives you the freedom to move your money any way you want. Grab a coffee, split a check, or pay your phone bill. Dash moves money anywhere, to anyone, instantly, for less than a cent.
WinstantPay is a global network and online payment platform able to handle any currency including commodities such as gold or cryptocurrencies.