According to Binance’s Latam North General Manager, Daniel Acosta, stablecoins now account for up to 90% of the $28 billion in annual volumes transacted in the Peruvian crypto market. Acosta stressed that the driving use cases for stablecoins in Peru were cross-border payments and remittances. Stablecoins Dominate 90% of Peru’s Crypto Market Stablecoins have become […]
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The company announced that this movie is part of its strategy to bring a local payment and banking alternative to Peru. Peru has a large level of smartphone penetration, but many Peruvians still lack access to financial services. Revolut Announces Expansion Push Into Peru, Applies for Local Banking License Finance apps and neobanks are turning […]
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The local press reported that the Peruvian Credit Bank (BCP) had completed the first bank-originated crypto-based payment in Peru. An employee used a bank-issued token to purchase a coffee in an internal coffee shop as part of a pilot for these technologies. Peru Debuts Cryptocurrency Payments in Banks More countries are dipping their toes into […]
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Lemon, an Argentina-based cryptocurrency exchange and wallet, has received a license to allow fiat-crypto interactions in Peru. The exchange, the first to receive such a license in the country, now eases the processes required to deposit and exchange fiat for crypto, with users only needing a phone number for this task. Lemon Receives First Fiat-Crypto […]
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The Superintendence of Banking and Insurance (SBS) of Peru, has issued a resolution that forces VASPs to implement Know Your Customer (KYC) and anti-money laundering (AML) measures as part of a compliance plan. The resolution is in line with FATF recommendations and seeks to control and avoid criminals to use these platforms for illicit purposes. […]
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The Indian instant payment system is gradually making its way around the world. Soc India and Peru collaborate on payments
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Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: President Bukele states El Salvador will not sell its bitcoin, Bitcoin ETFs land in Brazil and Peru, and Argentine President Javier Milei aims to criminalize central bank money issuance. El Salvador Won’t Sell […]
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The Lima Stock Exchange, the main Peruvian exchange, announced the inclusion of three different bitcoin spot ETF instruments in its trading platform. Ishares Bitcoin Trust (IBIT), Vaneck Bitcoin Trust (HODL), and Invesco Galaxy Bitcoin (BTCO) will be the instruments made available for Peruvians, which come to diversify the investment options for traditional investors in the […]
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Num Finance received $1.5 million in a pre-seed funding round in May and is now issuing stablecoins in the local currencies of Argentina, Peru and Colombia.
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Huobi Global, one of the biggest exchanges in volumes traded, has announced a partnership to make it easier for its Latam-based customers to acquire cryptocurrencies. The exchange has allied with Astropay, a payment services platform, to allow customers in Latam to purchase cryptocurrency with fiat currencies in several countries. Huobi to Make Crypto Easier to […]
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