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Colombian Bank Banco De Bogotá Begins Second Phase of its Crypto Pilot
Summary: Colombia’s oldest commercial bank, the Banco de Bogotá, has begun the next stage of a crypto pilot that will allow 5,000 of its customers to make and receive payments using tokens hosted on the platforms of two major crypto exchanges Bitso and Buda. The first part of the pilot, which began in March this year, ...
Colombia’s oldest commercial bank, the Banco de Bogotá, has begun the next stage of a crypto pilot that will allow 5,000 of its customers to make and receive payments using tokens hosted on the platforms of two major crypto exchanges Bitso and Buda.
The first part of the pilot, which began in March this year, saw the group of customers, all aged over 25, allowed to make crypto deposits and withdrawals on the bank’s mobile and desktop platforms. But the next phase of the trial will see what happens when the participants try to spend their crypto using the bank’s cards and app platforms.
the Buda interface will be ready sometime this month, while the Bitso platform will be ready in October, and that the new services will allow “cash-in and cash-out” transactions.The pilot will last for a further year, after which the Superfinanciera will assess the results and report to the government.
By Amy Liu
Tags: Banco De Bogotá,Colombian,Crypto Pilot
Link: Colombian Bank Banco De Bogotá Begins Second Phase of its Crypto Pilot [Copy]
