Dash, a privacy-oriented crypto-currency, announced its first financial report for the quarter 2020 to investors, revealing solid growth in the adoption of crypto-currency for commercial payments.
According to the report, commercial payments with Dash grew by 104% in the first quarter, thanks to several partnerships in the Latin American region.
Dash makes alliance for merchants in Venezuela to accept crypto-currency as a form of payment
Solid growth year after year
During the first quarter of 2020, the number of active Dash wallets installed on mobile devices was 101,747, representing a 214% increase over the previous year and a 21% increase over the previous quarter.
In the same period, the average number of daily commercial payments with Dash increased to 17,127, up 104% from the previous year.
This growth was stimulated by several associations in Latin American countries, mainly in Venezuela and Brazil.
The first half of the year looks promising for DASH investors
As reported by Cointelegraph in January, a collaboration with Burger King in Venezuela allowed payments using Dash and other crypto currencies. In addition, thousands of merchants in the country are now accepting Dash, thanks to local programs and a recent integration with MegaSoft POS terminals.
In Brazil, more than 2.5 million merchants can now use Dash as a payment method through solutions such as ATAR Pay.
Prices and negotiation numbers also grew
Dash also performed exceptionally well on its price during the period, with an appreciation of nearly 60%, making it one of the best performing crypt coins and marking its best quarterly growth since Q4 2017.
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Although volatility could be an impediment to the adoption of cryptosystems, Dash Core Group’s marketing director, Fernando Gutiérrez, felt that the positive trend helped foster the growth of commercial payments:
„Users spend more when the price goes up because they get richer and feel they can get a better deal. The price performance has probably added more than a few transactions to the overall long-term trend in daily use.
The average daily trading volume on the exchanges recorded the highest gains, reaching $37 million, representing a 987% growth over the previous quarter and a 686% growth over the previous year.