Bancolombia to Offer Crypto Trading in Financial Regulator's Pilot Program
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Loading... - Alden Murray
- 07 Dec 2021
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Bancolombia to Offer Cryptocurrency Trading to Customers in Regulatory Sandbox
Bancolombia, the largest bank in Colombia by total assets, is set to offer cryptocurrency trading to customers in partnership with cryptocurrency exchange Gemini, a New York trust company and custodian regulated by the New York State Department of Financial Services.
Cynthia Del Pozo Garcia, the exchange’s principal of strategy & corporate development, announced Monday that starting Dec. 14:
"Gemini and Bancolombia will launch a partnership to provide an initial cohort of customers of the Colombian bank a seamless on- and off-ramp to trade bitcoin (BTC), ether (ETH), litecoin (LTC), and bitcoin cash (BCH) through the Gemini exchange."
The partnership with Bancolombia “also serves as an important step toward the strategic expansion” of its presence in Latin America, Gemini noted.
The exchange added:
"Our partnership is part of a one-year pilot program run by Colombia’s financial regulator, the Superintendencia Financiera de Colombia (SFC), and will offer users seamless and secure access to crypto."
In January, the Superintendencia Financiera de Colombia announced that nine crypto initiatives will be allowed to test their products within the La Arenera regulatory sandbox. Read More…
