Payment-focused cryptocurrency Dash has been integrated into Texcent Asia’s mobile wallet app Paycent. The cryptocurrency is now available to Paycent users and the company’s network of 36 million merchants globally. Users and merchants can now buy and sell Dash as well as convert it with other cryptocurrencies and national currencies, the company announced on Wednesday.
In addition to conversion between digital assets, Paycent also features a Dash-to-Fiat instant liquidity functionality for local merchant payments.
“One of the reservations the average day person or shop owner has with utilizing cryptocurrencies is transaction settlement times,” said Nitin Gupta, chief operating officer of Paycent.
“No other digital asset can compete with Dash’s InstantSend transaction speed. Dash allows merchants the ability to receive payments instantly by a customer, making Dash one of the first entries into real-life consumer payments making it no different as if you were to swipe a credit or debit card.”
The integration of Dash into Paycent, which was done with the help of blockchain and cryptocurrency services provider BlockCypher, comes at a time when Dash is preparing to launch its Evolution platform in Alpha.
The much-anticipated Evolution platform promises to introduce major improvements and several important developers which will focus on “providing users with all the convenience and ease-of-use of a service like PayPal, but without sacrificing the unique benefits afforded by blockchain-enabled decentralization,” Ryan Taylor, CEO of Dash Core, the US-incorporated company leading the development of the peer-to-peer payment platform and cryptocurrency Dash, told CoinJournal in March.
Paycent is a financial platform that aims to be the global leader for complete mobile and cashless transactions. It offers both users and merchants a digital payment platform so they can send and receive funds, shop, and pay bills, supporting both national currencies and cryptocurrencies.
Paycent works through a debit-style card that enables users to instantly convert cryptocurrencies into local currencies. The mobile app has been available for download since January 2018.
“We are bringing the financial technologies of the Fourth Industrial Revolution (Industries 4.0) to today’s customers – especially the millennials who deal in both the fiat and digital currencies – and need a platform to convert them instantly without the hassles of going to an exchange and finding a buyer,” Gupta said in a statement in February.
The company describes its solution as “a global dual e-wallet that can be funded by digital currencies, for example, Paycentos, bitcoin, Ether, Litecoin or bitcoin cash, as well as high-liquidity and fiat currencies, within the same mobile application.”
“This allows digital currency holders multiple avenues of spend, and straddles the world of fiat and digital currencies,” it says.
Texcent Asia received its remittance license from the Monetary Authority of Singapore in February. The company will be first targeting the Asian, African and Australian markets, before moving to Europe, Russia and Latin America.