SpectroCoin, a UK-based bitcoin exchange and wallet, announced last week its plan to fully support Dash cryptocurrency by mid-August, which will include Dash wallet, Dash exchange, Dash debit card and Dash to fiat payment gateway for merchants.

Vytautas Karalevičius, SpectroCoin CEO and co-founder, made the announcement in an online post. Dash is currently the sixth largest cryptocurrency by market capitalization, which currently is over $51 million.

“For first three years, we have focused on the development of our product around Bitcoin as the first cryptocurrency used for payments”, Karalevičius said. “Now we are starting to add support for additional digital currencies, and the Dash is the first one to get onboard”.

As to why Dash was chosen, he reasons that it is one of the top cryptocurrencies by usage for actual payments, because of active Dash community and technological implementations such as InstantX for nearly real-time transactions confirmation.

Ryan Taylor, head of finance at Dash, said that the limit on InstantSend, which is the rebranded moniker of Dash’s InstantX capability that allows for near-instant transactions, is 2,000 dash, or about $17,000.

“You could enjoy the speed of InstantSend on all but the largest transactions… and the rare few that might exceed that threshold would still be four times faster than Bitcoin”, Taylor added.

Karalevičius went on to explain the various features that are to be implemented:

Dash wallet: It will allow SpectroCoin clients to receive, spend and store Dash, similar to using Bitcoin wallet. In addition, SpectroCoin will also run its MasterNodes to offer Proof-of-service consensus for Dash network, and will be sharing the reward from this service with clients storing Dash at SpectroCoin wallet.

Dash exchange: It will enable its clients to buy and sell Dash with credit or debit card, bank transfer, cash and other options.

Dash debit card: It will allow spending Dash anywhere where VISA or MasterCard is accepted.

“For Dash enthusiasts willing to use our cards, we recommend ordering debit cards even before Dash integration is live as Dash will work with current cards, so users will be able to spend their holdings from the first day of Dash integration”, Karalevičius said.

Dash merchant solution: It will enable shops to accept Dash and settle transactions in fiat currencies (including euros, dollars, pounds and much more) through its merchant API as well as shopping cart plugins in the same way they accept Bitcoin payments now.

Dash founder Evan Duffield said he was excited to have the support of legacy banking features within Dash’s sphere.

“We’re quite pleased to see some ahead-of-the-curve businesses fully utilizing our technology to do things like offering the ability to earn interest like a checking account or pay for anything online using a standard credit card,” said Duffield.