BBVA, a private bank based in Spain, published an article stating that Latam users are very interested in crypto-based solutions. The institution reported that nearly 20% of the users of its New Gen accounts, available from Switzerland, are Colombians who are attracted to the crypto services offered in these accounts.
Colombians attracted to crypto services, according to BBVA
Cryptocurrency solutions and related services are increasingly accepted by users in Latam countries because of the nature of their economies. According to BBVA, a Spanish bank that offers services worldwide, users from LATAM countries account for a large percentage of customers attracted to the company’s crypto solutions; according to a BBVA article, nearly 20% of the users of its New Gen account, which allows customers to invest in cryptocurrencies directly from their bank accounts, are Colombian. that allows customers to invest in cryptocurrencies directly from their bank accounts, revealing that nearly 20% of its users are Colombian
This means that the country’s citizens are particularly attracted to this type of account, which offers Bitcoin and Ethereum transactions and the ability to exchange these currencies for other fiat currencies from a digital wallet According to data provided by the BBVA, 37% of those who visited the account’s web page 37% of Colombians who visited the account’s web page are interested in this service.
The service is based in Switzerland due to the clear cryptocurrency legal framework available in Switzerland.In an interview provided to Banker in June, the Swiss BBVA CEO, Alfonso Gomez, mentioned what prompted the company to offer crypto services from the country He stated. Hedeclared:
Switzerland is proactive. For example, Finma is always willing to help. And if a traditional bank like BBVA comes up to us and says we are thinking about this kind of technology, the regulators are quite comfortable.
Crypto is catching on in Colombia
The interest that Colombian users have in cryptocurrency-based solutions is steadily growing and has attracted the interest of several exchanges that offer their platforms to Colombians. Latin crypto trading firms Bitso and Ripio expanded this year to offer their services in Colombia.
The country’s government is also moving to begin regulating cryptocurrency assets and exchanges, and the country’s financial regulator has proposed establishing rules to govern the relationships that virtual asset service providers (VASPs) have with banks.
In the same vein, in June the Colombian Congress approved in its first debate a bill directing the regulation of the behavior of cryptocurrency exchanges.
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