The Mexican startup Airtm will launch a campaign to raise donations for Venezuelans, a country whose unfavorable monetary policies have tormented it with hyperinflation.
Calling AirdropVenezuela.org, the campaign seeks to raise $ 1 million in cryptographic donations for residents of Venezuela. Once completed, the launch will publish donations to over 100,000 verified Venezuelans using the AirTM platform.
AirTM, founded in 2015, is a registered money services company (MSB) under the US Treasury Department, the Financial Crime Application Network (FinCEN), which requires MSBs to comply with the 39; anti-money laundering (AML) and know-your-customer (KYC) regulations.
More than 200,000 people and companies use Airtm to "access remittances, payments and donations at a free market rate and to preserve wealth against the rapid devaluation of the Venezuelan bolivar".
Airtm will work with Zcash Company, the Zcash privacy-based cryptocurrency issuer, along with Venezuelan educators and journalists. At the start of this year, Airtm integrated Zcash as an alternative step during the conversion of bolivars into dollars:
"We believe that cryptocurrencies like Zcash are useful for hedging against hyperinflation, daily transactions and remittances from households abroad." We are proud to support Airtm in this effort to educate and empower Venezuelans, "he said. declared Zooko Wilcox, CEO of Zcash Company.
The CEO of AirTM, Ruben Galindo, said Bitcoin Magazine on the desire of his company to lead the adoption of cryptocurrencies in the Latin American country.
"Venezuela has long been used as an example of a country that desperately needs cryptocurrency, but unfortunately there has been no effort to bring most of the cryptocurrencies to the Venezuelan people," he explained.
"Airdrop Venezuela will be the first bridge for cryptography projects that care about impacting end users in the region, and being independent of value, we will work hand in hand with each crypto community to bring their technology and specific benefits to those who have more need. "
Donations for the AirdropVenezuela.org campaign can be made on the Airtm platform using any of the supported cryptocurrencies, including AirUSD, Airtm's stablecoin.
Airtm operates a portfolio service with a peer-to-peer exchange platform that allows consumers and businesses in developing countries to exchange their legal currencies for cryptocurrencies at a free market rate. Users can choose to exchange their local currency with dollars via a peer on the platform, send it to others or withdraw it in their local currency.