Spain-based private bank BBVA published an article stating that Latin American users are very interested in their encryption solutions. The agency informed that nearly 20 percent of the users of the new generation of accounts offered in Switzerland are Colombians who are attracted to the crypto services offered by these accounts.
Colombians are drawn to crypto services, according to BBVA
Due to the characteristics of the Latin American economy, cryptocurrency solutions and their related services are increasingly popular with Latin American users. According to BBVA, a Spanish bank that provides services globally, Latin American users are an important part of the customers attracted by the company’s encryption solutions. In an article, BBVA disclose Nearly 20 percent of users of the New Gen account, which allows customers to invest in cryptocurrencies directly from their bank accounts, are Colombian.
This means that citizens of the country are particularly attracted to such accounts, which offer bitcoin and ethereum transactions and can exchange these currencies for other fiat currencies through digital wallets. According to data provided by the BBVA, 37% of Colombians who visit the account pages are interested in these services.
Since the country has a clear legal framework for cryptocurrencies, these services are based in Switzerland. In an interview with The Banker in June, BBVA Switzerland CEO Alfonso Gomez mentioned what prompted the company to offer crypto services from the country.he Announce:
Switzerland is proactive. For example, Finma is always willing to help. Regulators feel comfortable when traditional banks like BBVA approach them and say we are looking at this technology.
Cryptocurrencies are popular in Colombia
Colombian user interest in cryptocurrency-based solutions has been steadily growing, which has sparked interest from several exchanges that are bringing their platforms to Colombians. Bitso and Ripio are both Latin American-based cryptocurrency trading companies, Have expand Offering their services nationwide this year.
The country’s government has also started regulating cryptocurrency assets and exchanges, the country’s Financial Supervisory Authority proposal Establish rules to govern the relationship between virtual asset service providers (VASPs) and banks.
Likewise, in June, the Colombian Congress officially recognized Bill aimed at regulating the conduct of cryptocurrency exchanges in the first discussions.
What do you think of Colombians’ interest in crypto-based solutions? Let us know in the comments section below.
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