Airtm, a digital wallet connected to banks and various blockchains is aiming to raise $1MM in crypto for 100,000 ID verified Venezuelans to aid in the country’s inflation crisis.
A Mexican startup, Airtm was founded in 2015 and registered as an MSB with the USA’s Financial Crimes Enforcement Network (FinCEN). According to Airtm, the company already supports over 200,000 individuals and companies in Venezuela to provide access to remittance payments and donations at a free market rate and to preserve wealth against the rapid devaluation of the Venezuelan Bolivar.
Venezuela has the world’s highest inflation and the Bolivar has been rendered worthless, citizens have been seen using the Bolivar to make goods such as bags and handicrafts they can sell for USD. The situation has deteriorated such that residents are fleeing to neighboring countries due to food and medical shortages.
Cryptocurrency donations can be made in: BTC, BCH, ZCASH, DASH, ETH, LTC, XRP and XLM among others. Users can then convert to USD, gift cards, Western Union or to another cryptocurrency through the Airtm wallet.
The Airdrop Venezuela campaign launched on November 27, 2018 and has raised just over $80,000 USD at the time of writing.