It's a platform that allows merchants in countries with hyperinflation, to receive payments in the local currency or in cryptocurrency and automatically exchange them into the preferred ones.
KryptoPago created a nice user interface where the merchant will choose the preferred currencies for storing the value of the goods or services provided (i.e. 50% USDC, 30% BTC 20%).
The merchant will receive payments in the local currency (which is losing its value at a high rate) and then will send the money to a p2p network and receive BTC back in the assigned multisig wallet (Custodian: Bitgo)
LocalBitcoins.com market:➔ More than 1,143 BTC on trades averaged per week over the last 12 months.* ➔ +318 million USD of total market transactions over the last 12 months.* ➔ Total market growth of 2x over the last 12 months.*
* Stats from https://coin.dance/volume/localbitcoins/VES/BTC