KFC to Join Dash’s (DASH) Crypto Revolution in Struggling Venezuela, Reports Say
Privacy-centric cryptocurrency Dash (DASH) continues to thrive in the crisis-stricken Venezuela, this time with the reported DASH integration of an established global restaurant chain.
An online report published on Forbes revealed that the Venezuelan branches of KFC, the famous Kentucky-based fast-food company, would begin accepting Dash as payment sometime this week. This development will start on outlets based in the Venezuelan capital of Caracas before expanding to all branches across the country.
Alejandro Echeverría, co-founder of multiple Dash-related companies for Venezuelans, said:
“The [Dash] movement is spreading and growing fast in Venezuela. First it was food trucks and small family businesses that started to adopt [Dash] for payments, now we’re attracting more established businesses.”
Cryptos—Dash in particular—has risen to prominence in Venezuela as locals look for more stable alternatives to the country’s struggling fiat currency, bolivar soberano (VES). Venezuela is currently suffering a serious economic crisis, which at one point caused the country’s annual inflation rate to spike to 25,000 percent.
If reports are true, KFC will join pizza chain Papa John’s, fast food company Subway, and department store Traki in adopting Dash as an alternative payment method in Venezuela.
Meanwhile, Dash—16th largest crypto with a market capitalization of US$627 million—is currently trading at US$73.21 against the US dollar.