Regulated Crypto to Fiat Conversion Through Dash and Coinapult Partnership
Altcoin Dash is now live on Panamanian-based broker and wallet Coinapult, allowing individuals and businesses to buy and sell the digital asset against 20 national currencies. Coinapult’s partnership with Crypto Capital, owners of an international money transmitter license, provides a bridge for regulated crypto to fiat conversion. Since the start of 2017, Dash’s market cap has risen 8x and its trading volumes up 5x (from January 1 to May 3). The integration with Coinapult is expected to further increase demand.
Daniel Diaz, Dash VP of Business Development, said: “We have been interested in Coinapult and Crypto Capital for a long time, and were just waiting for the right time. This integration is massive for current and future Dash users because they really solve the question on how to buy and sell Dash in an easy and safe way using fiat. You get a digital currency on/off ramp that is directly connected with a fully functioning money-transmitting platform similar to online banking. You get your own segregated account with Crypto Capital, which is fully integrated with Coinapult, and you wire funds from your current bank to your Crypto Capital account. Rather than wiring funds to a third-party exchange directly, you are in control of all the accounts involved in the wire transfer process. With less risk and less friction holding and storing value on Dash becomes safer if you add to this the fact that Dash has fast and inexpensive transactions, you get a great overall user experience.”
CEO of Coinapult, Gabe Sukenik said, “Giving the Dash economy access to Crypto Capital via Coinapult could be a significant step forward for the liquidity of Dash for bank-settled fiat currency. Even in the midst of significant banking difficulties for bitcoin companies broadly, Crypto Capital has continued to service individuals and businesses that need access to bitcoin-friendly international wire settlement. Dash users now can directly buy or sell Dash in fiat, using Crypto Capital and Coinapult.”
Coinapult and Crypto Capital’s alliance extends to bitcoin users too, and it’s accepted fiat currencies include USD, EUR, GBP, CAD, AUD, JPY, CNY, HKD, TRY, CZK, and the PLN. Coinapult’s user base has increased 300% in the past 18 months.
Diaz added, “The way it works is you need to open an account with Coinapult, you immediately get a working Dash wallet you can deposit Dash to. On the other hand you also need to open an account with Crypto Capital, being a money transmitter you go through a straightforward KYC process and when you are done you officially get your own account with online access. Then you just link your Coinapult user with your account and can start depositing money to your Crypto Capital account and transfer it instantly to Coinapult to buy Dash. The money in your Crypto Capital account is always available to you to wire out using your online platform. They service users in the US and even in places like New York so we are very excited for users that will now have a great option to buy and sell Dash in a friendly way.”
The team has also made several key hires. Dash has hired six more C++ developers who earned full time positions against a talent pool of over 50 applicants, several interview rounds and multiple code reviews. This brings the development team to over 20.