Well, beyond Bitcoin, XRP, and Ethereum, Dash cryptocurrency is also up with 9.43 percent over the past 24hrs. The massive gain appeared amidst ‘Dash powered Cannabis Firm, ‘Alt Thirty-Six’ recorded significant B2B transaction volume. Moreover, the massive rise in the B2B transaction for Dash based ‘Alt Thirty-Six’ is a result of a new cash management solution.
Cash to Dash Conversion
Specifically focused on the legal cannabis industry, Alt Thirty-Six is an exclusive Dash payment solution firm. It was partly funded by Dash treasury and has been facing banking issues across the United State. Alt Thirty-Six has recently introduced a new cash management solution that enables easier access to Dash for suppliers. It particularly does ‘Cash to Dash conversation’ by enabling ‘cash-heavy dispensaries’ get converted into Dash coins and then will be used as payment to suppliers.
As Lauren Murphy, president of Alt Thiry Six notes;
“Alt Thirty-Six recently added a Cash Management Solution that includes vaulting, cash transportation, and conversions. Cash to Dash conversion services provides wholesale technology platforms similar to CannTrade a funding mechanism to their online environment, allowing cash-intensive cannabis businesses to enter the banking system and pay digitally for wholesale orders.”
Every licensed cannabis business has to get approval from Alt Thirty Six to use cash management services. The process is that;
“A merchant can request a cash pickup directly from the Alt Thirty-Six platform, once details are confirmed, cash is picked up, as soon as the amount is validated, the merchant will receive funds into their Alt Thirty-Six account to use, hold or withdrawal at their convenience.”
For now, the platform is live with a beta version of the B2B solution. Presently, it is offering more than 30 partners in the company’s B2B public beta version. Nevertheless, the beta version itself recorded massive transaction volume on Dash blockchain and in near future, Alt Thirty-Six aims to expand to the B2C market.
Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com