The Dash Investment Fund (DIF), owned by the Dash network, has recently invested in CrayPay, a mobile payment platform that allows its users to instantly send and receive savings from over 150,000 locations and 75 national retail sites.
DASH (Digital Cash) announced the news on Tuesday which aims to increase adoption among its users. In coordination with this investment, Dash Core Group will be creating a new version of CrayPay’s saving platform to be utilized by DASH users.
A Broader Outreach
This collaboration means that users can spend and receive DASH back as savings from a plethora of American retail and online merchants. It will also give CrayPay users the opportunity to get exposure to the crypto if they choose to do so in the future.
Ryan Taylor, CEO of the project, commented on the partnership:
“CrayPay is the perfect solution to provide Dash users with a convenient method of spending their Dash at a huge number of merchant locations, through an application that delivers a great purchase experience.”
“Not only will users have access to more spending opportunities for their Dash, but they can save significantly more than they could paying with a cash-back credit card, providing a strong incentive for using Dash as often as possible.”
Since the cryptocurrency has low transaction fees, it aims to offer greater savings than what is typical on the already established CrayPay platform. In theory, this would create incentives for both consumers and retailers.
Easy mobile payment is another important step to broader cryptocurrency adoption. Already widely accepted in China and some other countries worldwide, America has a lot of catching up to do. But it may be progressing in the right direction.
What is DASH?
The crypto is an altcoin and Bitcoin fork designed to act as ‘digital cash,’ or money that you can spend or transact easily, cheaply, and at any time.
It was created as a Bitcoin alternative seeking to offer faster and more private transactions. Many are still critical of this supposed issue on the Bitcoin network today.
Dash is also a decentralized autonomous organization that is run and verified by nodes. It claims that it has some private transaction capability.
As the thirtieth largest cryptocurrency by market cap, it tries to legitimize itself as a contender against some of the bigger cryptocurrencies.