Dash cryptocurrency announced an integration with Paycent, a hybrid wallet for fiat and digital assets, to offer instant liquidity to merchants and users, Wednesday.
Users and merchants will now be able to buy, sell and convert between digital assets in seconds with the Paycent app on iOS and Android, as well as exchanging Dash, the company said in a statement released today.
Bradley Zastrow, director of Business Development at Dash Core Group Inc. says:
"Paycent's real-time transaction speed and multiplatform API makes this a great opportunity for anyone, regardless of experience with digital assets, to make payments to merchants and pay cross-border remittances using their smartphone. This is the kind of integration that makes cryptocurrency's payments potential a reality to the global public."
While cryptocurrencies offer cost savings to merchants over traditional card solutions, slow transaction speeds and currency conversion problems have been an obstacle to their widespread adoption. Dash’s integration with Paycent solves this problem.
Dash users can utilize Paycent's Dash-to-fiat feature to gain instant liquidity for local merchant payments. The new integration makes immediate payments accessible to 36 mln merchants globally, the company says.
Nitin Gupta, the chief operating officer of Dash, says:
"One of the reservations the average person has with utilizing cryptocurrencies is transaction settlement times. No other digital asset can compete with Dash's InstantSend transaction speed. Dash allows merchants the ability to receive payments instantly from customer, making Dash one of the first entries into real-life consumer payments no different as if you were to swipe a credit or debit card."
Paycent's Dash integration is built by blockchain web services and infrastructure provider BlockCypher, which specializes in developing solutions that enable users and companies to interact with several cryptocurrencies through one platform.
The Paycent app is now available for download globally on the Apple Store and Google Play Store.