MakerDAO and Airtm Partner to Empower Financial Stability in South America
MakerDAO has joined forces with Airtm, a Mexico City-based currency platform that helps people all over the world access dollars and protect their savings from devaluation. This partnership includes Dai as an Airtm in-wallet balance with direct on/off boarding transfers, allowing Airtm users to take charge of their financial futures. They can send and receive funds fast and inexpensively, regardless of location or currency type.
The Importance of this Alliance
We know the role cryptocurrencies play in global financial innovation, not only in terms of ease of transfer of value, but also in terms of monetary empowerment. Many South Americans for example, are deeply impacted by economies plagued by hyperinflation and political oppression. Decentralized, censorship-resistant cryptocurrencies, such as Dai, transcend borders and regimes, eliminating many of the obstacles that prevent people from being able to pay their rent or feed their families.
Nowhere is the combined power of Dai and Airtm more useful today than in Venezuela, a country facing severe economic and humanitarian crises. According to Steven Henke, professor of applied economics at Johns Hopkins University, “Venezuela’s annual inflation rate measured for 3/23/19, is 121,102%.”
Through Airdrop Venezuela, an initiative led by Hanke that distributes donations in Dai and other cryptocurrencies through the Airtm platform, Venezuelans in need are getting help. The initiative’s mission is to send $1,000,000 in crypto to 100,000 Venezuelans in $10 micro transfers directly to their Airtm wallets. As part of the partnership, MakerDAO is contributing 10,000 Dai to Airtm’s AirdropVenezuela.org campaign.
Creating a Better Future
With Dai helping to power the engine of Airtm, users can not only escape weak currencies, but also worry less about how economic and political circumstances beyond their control affect their daily lives, and instead think long-term regarding their money. With access to Dai, people across the globe can design and control their financial futures, and realize possibilities once beyond their reach.
“By combining the benefits of cryptocurrency assets while removing their volatility, decentralized stable currencies like Dai are essential to achieving the full potential of blockchain’s global transport layer of value,” says Ruben Galindo, CEO of Airtm. “We are excited to collaborate with MakerDAO to include Dai as an Airtm in-wallet balance with direct on/off boarding transfers, connecting Dai to bank, e-money and other widely used value networks across Latin America via our peer-to-peer exchange.”