The initiative is developed in conjunction with BitGo.
During its launch phase, Criptococos will allow transactions in BTC and USDC.
The Banco de Crédito de Perú (BCP) marked a new milestone in the national financial system by announcing the launch of Criptococos, a platform that will allow its clients to buy and manage cryptocurrencies in a safe and regulated manner. With this initiative, it becomes the first Peruvian bank to incorporate digital assets into its service portfolio, according to the official statement.
The project is developed in alliance with BitGo, a US firm specialized in infrastructure and custody of digital assets for financial institutions. Through this collaboration, BCP seeks to create a bridge between the traditional banking system and the innovation of the cryptocurrency ecosystem.
In its initial phase, Criptococos will allow trading with bitcoin (BTC) and USDC coin (USDC), Circle’s stablecoin. Transactions will be carried out within a closed environment, with no movements to or from external platforms, in order to ensure the traceability of funds and comply with anti-money laundering and anti-terrorist financing regulations.
According to Lenin Tarrillo, director of cryptocurrencies and blockchain at BCP, the development of Criptococos is part of the bank’s effort to explore new financial technologies and offer its clients a modern experience, while maintaining the security standards of the Peruvian financial system.
The pilot account with the authorization of the Superintendency of Banking, Insurance and AFP (SBS)—the autonomous regulatory and supervisory body of the Peruvian financial system.
For its part, BitGo will be in charge of safeguarding the assets acquired by BCP clients through its subsidiary BitGo Trust Company, which offers insurance coverage of up to $250 million against loss or theft.
The launch of Criptococos reflects the growing interest in cryptocurrencies in Peru. And, as CriptoNoticias reported, this is also seen in the recent landing of the Bitso exchange, which comes to provide local and international payment solutions, as well as corporate services based on stablecoins. In this way, both traditional banks and specialized platforms seek to facilitate regulated access to cryptocurrencies in the Andean country.