Colombian Bank Partners with Crypto Exchange to Pilot Crypto Trading
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On February 2, Colombian banks plan to form an alliance with some of the country’s largest cryptocurrency exchanges to conduct a one-year crypto asset trading pilot. The main purpose of the pilot is that cryptocurrency exchanges and banks will work together to test how financial institutions use cryptocurrencies for transactions and whether they can indeed speed up payments and improve efficiency. The pilot will be conducted within the newly established regulatory sandbox. According to official disclosures, Bogota Bank is currently working with crypto exchanges Bitso and Buda, while Bancolombia Bank is working with Gemini Colombia. |
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