Dash, the seventh most valued cryptocurrency with a market capitalization of over US$78 million, has partnered with Shake to allow Dash owners to purchase goods and services from merchants through the Visa network.
Dash holders can now topup virtual or physical Shake Debit Cards and make purchases at any merchant accepting EUR and USD through the popular payments network. Once topped up, the Shake Debit Card lets users spend their Dash while paying merchants in their preferred currency.
Commenting on the new partnership, Jean Amiouny, CEO and co-founder of Shake, said that the collaboration with Dash “heightens Shake’s user experience.” Notably, Amiouny mentioned Dash’s InstantSend, which has become extremely popular, that allows users to topup their debit cards almost instantly, a feature that will further make cryptocurrencies “usable in everyday transactions,” he said.
“This is a very exciting financial option for the Dash community,” said Daniel Diaz, VP of business development at Dash.
“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.”
Shake, which opened beta testing to the public last week, is a Canadian company providing cryptocurrency payments services, including virtual and plastic debit cards which can be funded with bitcoins or Dash. Shake also offers a tap-and-pay feature on its Android app for payments at store terminals through NFC technology.
Shake charges $15/€15 for issuing a plastic card, a 1% transaction fee for loading the card and a $1/€1 monthly charge. The virtual card, downloadable on smartphone, is free.
The news comes shortly after Dash has announced a partnership with blockchain compliance platform Coinfirm to create the first interwoven solution for AML/KYC compliance in the cryptocurrency sector.
Under the partnership, Coinfirm will provide Dash with the capacity for safe adoption by commercial or financial institutions that require full-fledged compliance without affecting Dash’s optional privacy features.
The solution will provide Dash users with the opportunity and option to use the cryptocurrency through regulated services while preserving its privacy-centric features.
Introduced in 2014 by creators Evan Duffield and Kyle Hagan, Dash, formerly known as Darkcoin and XCoin, is an open sourced, privacy-centric, peer-to-peer cryptocurrency.
Dash offers instant transactions (InstantSend), private transactions (PrivateSend) and token fungibility. It operates a decentralized governance and budgeting system.