In brief

  • Criptolago has rolled out crypto payments for its users via SMS text messages.
  • Along with Dash Text, Venezuelans now have access to crypto payments, even when Internet connectivity fails.
  • Criptolago hopes to advance greater crypto adoption throughout Venezuela with its new service.

Poor internet service will no longer be an obstacle for Venezuelans to pay with crypto. The Venezuelan exchange Criptolago announced earlier this week the launch of a service that processes crypto transactions via a text message—no Internet connection required.

According to the exchange, the initiative was launched in response to a call by President Nicolas Maduro, who urged companies to develop payment mechanisms parallel to the traditional banking system. The president emphasized the need to create offline payment systems compatible with the new Petro cryptocurrency.

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