Argentina-based Fintech firm Koibanx has maintained operations in the Latin American region, well before the COVID-19 outbreak led to major changes in the daily lives of the area’s residents. Despite the economic challenges associated with expanding a business during these difficult times, Koibanx is planning to establish offices in Mexico.
The Fintech company confirmed that it will launch operations in the world’s largest Spanish-speaking market as soon as possible.
At present, Koibanx’s management is trying to figure out the ideal time to establish business offices in Mexico’s capital. Koibanx will be joining many other financial technology startups in Mexico that are developing new financial infrastructure and working with local banks to better prepare for the digital age.
Koibanx provides a comprehensive back-end platform for banks and other financial institutions, which allows them to connect APIs. The company also uses blockchain technology to record transactions.
Koibanx was notably a part of Finnovista’s latest graduation batch. The company took part in a Startupbootcamp Scale Fintech program, where it was able to gain a better understanding of how to develop products specifically for Mexico’s market.
In Colombia, Koibanx has been working cooperatively with banking service provider Davivienda, in order to develop a digital wallet. Koibanx has also teamed up with Colombia Fintech to encourage and support the use of blockchain or distributed ledger technology (DLT) within the nation’s evolving ecosystem.
In Argentina, Koibanx has worked with the municipal government of Marcos Paz to launch a payments system over the RSK network. Local businesses have been encouraged to use the platform for purchasing everyday items.