Popular crypto exchange Cubobit has launched a Dash-only remittance platform RemeZaZa. Its design is all about facilitating prompt remittance transfers to Mexico.
The platform will be based solely on the Dash blockchain and will also enable remittance transfer within minutes. Cubobit exchange incorporated Dash in August.
Co-founder and CEO of Cubobit, Amir Manzur Escobar, believes Dash is perfect for remittance. Due to its transaction speed that InstantSend powers. He also added: “We are incredibly excited to be able to help Mexican recipients simplify their remittance deliveries with the launch of the RemeZaZa.com platform.”
He praised the Dash blockchain. Stating that it has several wonderful features that make it an ideal tool for global payments. Features like worldwide payment coverage, instant spending ability, and ease of use. He also added that: “Using Dash we are now able to receive remittances in Dash, exchange them to Mexican pesos, and deposit to the beneficiary’s account almost instantly.”
To make use of RemeZaZa, recipients must have a Dash address connected with their account. This will enable immediate conversion into the Mexican Peso. This, in turn, funds either their RemeZaZa debit card, bank account or debit account within five minutes. Thus RemeZaZa is one of the fastest remittance service providers when compared to other major remittance firms. Many of them spend hours or even days to complete a similar transfer.
Remittance will facilitate Dash adoption
Just last week, Dash group core executive had a YouTube video meeting, where they discussed possible ways to improve Dash adoption in Latin America.
Despite Dash transaction speed and low cost, several regions still experience difficulties when trying to access remittance services. This partnership with Cubobit to create RemeZaZa is a potential solution to these issues.
RemeZaZa also shows Dash is making notable improvements in its quest for expansion into Latin America. Castaño reiterated during the announcement that remittances are a significant portion of the Mexican economy.
He said: “Remittances are the largest and most important income source for Mexico, bigger than any industry including oil, and are a key focus use case for Dash.” He further added that all the team involved in the launch have been hard at work. Ensuring Mexicans enjoy instant and cheap remittance deliveries from anywhere in the world.
According to a report, $35 billion via remittances will be sent from the United States to Mexico by the end of 2019. Concurrently, BitInfoCharts, states that about $25 million is sent daily via the Dash Network.