Key facts:
Bitcoin and 3 other cryptocurrencies will be available for sale on Bitso.
Last December, the alliance between Gemini and Bancolombia began operations.
This article contains referral links. Know more.
Within the framework of the pilot project of the Financial Superintendence of Colombia (SFC) to test financial services with bitcoin (BTC) cryptocurrencies, the exchange of Mexican origin Bitso will begin to offer services for the sale of these assets in that South American country, in alliance with the Bank of Bogota.
The project organized by the SFC, known as a regulatory sandbox, began at the end of January 2021 with the authorization of 8 bitcoin exchanges to make alliances with local banks, as reported by CriptoNoticias.
Emilio Pardo was appointed by bitso as the new General Manager of the company for Colombia, and will be responsible for the development of the company’s strategy in the country, to accelerate the adoption of cryptocurrencies and financial inclusion.
Advertising
“We are witnessing one of the most important moments in the adoption of cryptocurrencies in the country,” said Pardo, who until now served as Business Development Manager for the Andean Region at Mastercard.
In the alliance between Banco de Bogotá and bitsocontemplated in the regulatory sandbox, known as La Arenera, the exchange is represented by the company Nvio Pagos Colombia, according to to document FAQ published by the exchange. The test contemplates a maximum of 5,000 clients and requires participants to have an account at Banco de Bogotá and at least a Level 1 Account at Bitso.
The users of the project will have access to the purchase and sale of four cryptocurrencies on the platform of bitso, using Colombian pesos: bitcoin (BTC), ether (ETH), bitcoin cash (BCH), and litecoin (LTC). For users admitted to this test, Bitso will not charge the commissions that it normally contemplates, the document affirms.
Other initiatives with bitcoin in the Colombian sandbox
On December 14, the first alliance within the framework of the sandbox carried out by the SFC, formed by Gemini and Bancolombia, began operations, as reported by CriptoNoticias. Although it was scheduled to start last December, the alliance between Davivienda and Binance began in mid-January of this year.
The three initiatives have a one year duration for the testing stagebefore the SFC authorizes a normal operation of the exchanges, both in access to the cryptocurrencies handled by each platform, and in the elimination of limits on the number of users that each exchange can serve.