AirTM launches, a campaign to raise $1MM in cryptocurrency donations to send directly to Venezuelan locals suffering from hyperinflation.

Cryptocurrency advocacy groups, Venezuelan educators and journalists join to raise awareness of the benefits of cryptocurrency.

Mexico City, MEXICO

San Francisco, CA, Nov. 27, 2018 (GLOBE NEWSWIRE) --, a P2P exchange platform and digital wallet for the developing world, has launched a campaign to send $10  equivalent of cryptocurrency and US dollars directly to the AirTM accounts of 100,000 I.D.-verified Venezuelans.  The goal of AirdropVenezuela is to raise a minimum of USD $1,000,000 to help Venezuelans suffering from the world’s worst hyperinflation to buy food, medicine, and other necessities.

“Cryptocurrency is a revolution of financial freedom and opportunity, and AirTM is proud to make cryptocurrency accessible and useful to the people who need it most,” commented Josh Kliot AirTM Co-Founder and Chief Product Officer. “With cryptocurrency and AirTM, it’s possible to make direct donations to people in need that are accessible as local money to anyone in the world at free market exchange rates.”

Due to its failed monetary policy, Venezuela was the first country in which AirTM’s e-wallet experienced rapid adoption. More than 200,000 consumers and businesses in Venezuela rely on AirTM to access remittance, payments, and donations at a free market rate, and to preserve wealth against the rapid devaluation of the Venezuelan bolivar.

Because of the large number of dollar-to-bolivar exchanges between AirTM peers, economists such as John Hopkins University Professor Steven Hanke, have declared AirTM to be the most reliable measure of the exchange rate between the Venezuelan bolivar and the U.S. dollar, displacing DolarToday, the long-standing reference for the parallel bolivar/dollar exchange rate in Venezuela. The Venezuelan government has responded by attempting to block its citizens’ access to AirTM’s web application and threatening AirTM employees and users with legal action.

“We are committed to helping the people of Venezuela survive the current crisis of hyperinflation by giving them an easy and convenient way to receive cryptocurrency donations and dollar-denominated payments from abroad and to make it easy for them to convert the crypto and dollars they receive to bolivares at a free-market rate,” commented Ruben Galindo, AirTM Co-Founder and CEO. “We believe in freedom, fairness, and the right of everyone to preserve and enjoy the fruits of their labor.”

For AirdropVenezuela, AirTM has partnered with Venezuelan educators, activists, journalists, and the Zcash Company, the company that leads development and improvements to the Zcash protocol.  

"Our hearts go out to the millions of people affected by the economic conditions in Venezuela,” commented Zooko Wilcox, Zcash Company CEO and Founder. “We believe that cryptocurrencies such as Zcash are beneficial for hedging against hyperinflation, day-to-day transactions and remittances from families abroad. We are proud to support AirTM in this effort to educate and empower Venezuelans."

AirTM recently added crypto balances to its e-wallet. AirTM users can add funds to their AirTM wallet from over 200 bank networks and e-money systems and hold those funds as USD or convert to cryptocurrency. Donations for AirdropVenezuela can be made using any of the nine  cryptocurrencies supported by AirTM and AirUSD, AirTM’s dollar-denominated currency. Funds will be delivered to AirTM e-wallets with AirTM-verified government-issued IDs. With three years of experience operating in Venezuela and throughout the developing world, AirTM has become expert at authenticating identity and preventing fraud in developing world regions.

“Cryptocurrency is a tool to counteract self-serving, irresponsible monetary policies like the chavista regime of Maduro in Venezuela” commented Alejandro Machado, a Venezuelan activist and product designer. “Donations in coins can provide a much better store of value than the local bolívar, and AirTM’s dollar wallet provides a medium of exchange – with the option to convert back into bolívares.”

Platforms that facilitate peer-to-peer fiat/crypto exchange, such as AirTM and Localbitcoins, have flourished in countries with debased currency regimes, especially those with capital and currency controls. In countries that have banned centralized cryptocurrency exchanges AirTM has experienced rapid growth in transaction volume and new users.

AirTM operates a blockchain and bank-connected digital wallet and peer-to-peer exchange platform (the AirPlatform) that provides globally-connected financial services to consumers and businesses in the developing world. AirTM helps consumers and businesses in countries with devaluing currencies, hyperinflation, and limited banking systems to exchange local money for cryptocurrencies (including fiat-pegged cryptocurrencies such as AirUSD), at the free market rate determined by exchanges on its peer-to-peer platform.


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