Gemini cryptocurrency exchange has partnered with Bancolombia, Colombia’s largest bank. Its clients will have “seamless” access to Bitcoin, Ethereum, Litecoin and Bitcoin Cash through the company’s platform.
We recently partnered with @Bancolombia to provide their customers with a seamless onramp to trade $ BTC, $ ETH, $ LTC, and $ BCH through the Gemini exchange! 🇨🇴
We’re excited to work closely with the Colombian crypto ecosystem and grow our presence in LATAM⬇️https://t.co/V1VA8lFdQJ– Gemini (@Gemini) December 6, 2021
The initiative is part of a pilot program overseen by the Colombian Treasury Department (SFC) launched earlier this year. In March, Banco de Bogotá joined the experiment and is evaluating the business model and risks associated with digital asset processing.
December 14 the first group Bancolombia customers will have access to cryptocurrency trade. It is not known exactly who came in their numbers. The parties also did not specify whether or not users will be able to withdraw funds.
“This partnership is an important step towards a strategic expansion in Latin America. We look forward to working closely with the Colombian crypto ecosystem and supporting products that will allow Colombians to take control of their finances, ”said Cynthia del Pozo Garcia, Gemini’s director of strategy and corporate development.
In January 2021 SFC approved nine cryptocurrency exchanges that will take part in the pilot project. In addition to Gemini, these include Binance, Bitso and others.
Recall that in the same month, Colombia published a white paper of bitcoin on the government website.
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