Dash cryptocurrency, a payments focused cryptocurrency that offers its users split-second transactions confirmation times is now being supported by Equicex Group, a company that offers debit cards and most recently a cryptocurrency exchange.
Equicex has operations in close to 100 countries globally and its integration of Dash payments raises the adoption meter for Dash and other cryptocurrencies by association. Equicex Group offers two kinds of cards, privacy-focused debit card dubbed the Black Card and a regular VISA card dubbed Equicex Blue Visa Card. Equicex Blue supports transactions in three fiat denominations i.e., GBP, EUR and USD currencies but the company CIO David Miller has reported that they “will add more currencies depending on our users’ countries.”
The operation of the Blue VISA card requires identity verification and other KYC procedures just like other regular VISA cards offered by other merchants. Of interest to cryptocurrency enthusiasts is the privacy-focused option, the Black Card.
As opposed to the other regular Blue Card, the Black Card does not require any identity verification and transactions are totally anonymous. This is aided by the fact that the banking partner through which the transactions on this card are routed is based in Belize which has less strict regulatory procedures. In addition, the card has no spending limits. According to David, the cards are “usually used by merchants who want to provide their users fully anonymous services.”
The Black Card has an additional couple of fiat currency pairs supported on top of the regular Blue Card and these are CAD and CHF currencies. The only downside to using this card is the higher fees that come along with the use of offshore bank accounts. The cryptocurrency exchange offered by Equicex allows both customers and non-customers to use the platform. It charges a transaction fee of 0.10% for all trades on top of the individual blockchains’ network fees.
The latest development by Equicex to integrate Dash will allow Dash users to access debit card facilities across a wider point of sale terminus than before. Despite having the option to spend in cryptocurrency, most merchants to do not accept cryptocurrency payments much less Dash payments. Therefore, with this integration, Dash users will be able to spend their Dash at more locations increasing the adoption of Dash.
The privacy features offered by both entities make this integration natural fit. With the lack of KYC procedures of Equicex’s Black Card and Dash’s PrivateSend users can expect to use their Dash in total anonymity. In addition, the fees to using the Black Card for crypto payments are less as compared to other cryptocurrency debit cards without the added benefit of privacy.
