Venezuelan Pharmacy Franchise Now Accepts Crypto Payments

A Venezuelan drug store establishment will now accept dash cryptocurrency payments, through integration with Panda Exchange’s exclusive payments system.

The Farmarket retail chain is introducing a dash-enabled point of sale framework, XpayCash, that will permit clients to make instant cryptocurrency transactions, the Dash Core Group reported Monday. The payment rail will go live in 22 drug store locations over the next two quarters.

Dash representatives will offer on-site training amid the first two months of operations as part of the firm’s initiative to onboard potential cryptocurrency clients within the nation, Panda Exchange partner Robert Mozo said in a press release.

Out of the around 4,900 dealers that accept dash worldwide, about half are found in Venezuela, the press release stated.

Much of this progress has been made possible by DiscoverDash, which started by offering dash training to smaller companies and family-owned businesses, but has grown to draw in more established enterprises.

Additional onboarding endeavors were driven by Dash Merchant Venezuela, which succeeded in making “business connections” by giving crypto-enabled POS to businesses, before closing down for worker compensation irregularities.

“We expect our partnership with Panda in Colombia and Farmarket in Venezuela to be a substantial move toward a purchase driven economy, where not only Venezuelans in Caracas will be able to pay directly in stores with Dash, but also their relatives in Colombia and elsewhere will be able to buy medicine from abroad and resolve health issues for their relatives and loved ones,” said Dash Core Group CEO Ryan Taylor in a statement.

Venezuela is rapidly getting to be a hotbed for actual cryptocurrency use cases. In May inflation come to 815,000 percent, following a one year high over 1.7 million percent. Under these economic conditions, cryptocurrencies display a store of value as well as a steady form of payment for citizens. XPay charges a 3.99 percent transaction cost.