Just recently, the Banco de Bogota has made an exciting announcement for the cryptocurrency sector in Colombia. Banco de Bogota, which is a major commercial bank from Colombia has announced the launch of a pilot for cryptocurrencies.
The bank has announced that the pilot will not be an open public but would be a close public one. This means that the bank will be selecting the customers from its platform and make a group out of them. Then the platform provides access to the particular users for the cryptocurrencies.
Using the banking platform, the users will be able to make and perform transactions through cryptocurrencies. The users will be required to report any problem that they experience during the processing transactions through cryptocurrencies.
The bank has announced that the platform used for this testing would be the banking platform that is supported by the bank.
The sources have revealed that the bank is planning to launch the pilot for the cryptocurrencies in the running month. As per the bank, once the pilot has been launched, the users will have the option of making withdrawals or deposits using the platform.
The firm has confirmed that the bank platform powered by the Banco de Bogota will be available for the users via smartphones as well as PCs or Macs.
During the pilot, the users will also be able to trade the cryptocurrencies they have available in their wallet accounts. They would also have the opportunity to exchange them with other cryptocurrencies or even for fiat currencies such as USD, EUR, GBP, or even Colombian Pesos.
The users will also be allowed to deposit the money directly into their bank accounts. The link-ups established by the Banco de Bogota would also allow the investors to make crypto-purchases through other cryptocurrency exchanges directly. This means that the users will not be required to first make deposits at the exchanges and transfer them to the desired platform.
As per the Banco de Bogota, this is just the beginning of the venture that the bank has set upon. With the launch of the current project, the platform is planning to make a move into the crypto-sector even further.
The bank has revealed that the bank’s entire focus is on the main cryptocurrency project that is being directed by the Financial Superintendence. Financial Superintendence is one of the major regulatory firms in Colombia’s financial sector.
It was just a week ago when the regulatory firm had announced the list of the companies that had recently applied to join the bank in its journey.
With the latest announcement, the bank has managed to gather the majority of the attention towards itself. The major factor for the success of the bank is because it is the oldest bank in the entire country.