Banco de Crédito del Perú (BCP), which claims to be largest bank and the largest supplier of integrated financial services in Peru, and BitGo, the digital asset infrastructure company, announced the launch of Criptococos, the banking platform in Peru, to allow for the purchase and management of crypto assets.
The launch is part of a pilot said to be authorized by the Superintendency of Banking, Insurance, and Pension Fund Administrators (SBS) and reflects BCP’s commitment to driving advancements in the financial system.
Lenin Tarrillo, Head of Crypto and Blockchain at BCP, remarked:
“Criptococos was developed by BCP through our initiative to explore digital assets and emerging financial technologies. We aim to provide our clients the trusted security of the Peruvian financial system in the context of modern digital assets,”
Luis Ayala, Managing Director and Head of Sales Latin America at BitGo
“This partnership underscores our commitment to helping trusted financial institutions expand digital asset access to their clients. Latin America is one of the most dynamic markets in the world, and we’re excited to bring our services to a new wave of users,”
During this initial phase, customers will be able to purchase and sell bitcoin and USDC, a stablecoin that has been pegged 1-1 to the US dollar.
All transactions are conducted in a closed loop, with no transfers between external platforms, ensuring traceability and compliance with anti-money laundering and counter-terrorism financing policies.
The acquired assets will be held in custody by BitGo Trust Company, Inc.
BitGo offers infrastructure, segregated accounts, and regulatory standards, which aim to ensure that customer assets are protected.
As noted in the update, Banco de Crédito del Perú is the oldest financial institution in Peru, with a history that dates back to 1889.
As covered, BitGo is the digital asset infrastructure company, “delivering custody, wallets, staking, trading, financing, and settlement services from regulated cold storage.”
Since their founding in 2013, BitGo has been focused on “accelerating the transition of the financial system to a digital asset economy.”
