Bolivian Bank Banco Bisa Launches USDT Custody, Enabling Crypto Transactions
The bank said that the service offers affordable pricing for USDT sales, starting from a minimum of 200 USDT up to a daily limit of 10,000 USDT. Fees vary between 35 to 100 bolivianos ($5 to $14.5), depending on the amount
Bolivian bank Banco Bisa has introduced a custody service for Tether’s USDT stablecoin.
The initiative allows clients to buy, sell, and transfer cryptocurrency through the bank, the financial institution said in an official announcement last week.
Per the report, Banco Bisa’s new service enables users to hold their assets, facilitate transactions with relatives, and conduct cross-border payments.
Bolivia Bank Launches Regulated Custody Service
Yvette Espinoza from the Autoridad de Supervisión del Sistema Financiero (ASFI), Bolivia’s financial regulator, said the initiative would help the country allow crypto transactions within a regulated framework.
The move aims to mitigate the risks associated with unregulated crypto interactions.
“This is a custody service that will allow clients to carry out various operations safely, reducing the risk of unsafe interactions in the cryptocurrency market.”
The initiative allows clients to buy, sell, and transfer cryptocurrency through the bank, the financial institution said in an official announcement last week.
Per the report, Banco Bisa’s new service enables users to hold their assets, facilitate transactions with relatives, and conduct cross-border payments.
Bolivia Bank Launches Regulated Custody Service
Yvette Espinoza from the Autoridad de Supervisión del Sistema Financiero (ASFI), Bolivia’s financial regulator, said the initiative would help the country allow crypto transactions within a regulated framework.
The move aims to mitigate the risks associated with unregulated crypto interactions.
“This is a custody service that will allow clients to carry out various operations safely, reducing the risk of unsafe interactions in the cryptocurrency market.”
The bank said that the service offers affordable pricing for USDT sales, starting from a minimum of 200 USDT up to a daily limit of 10,000 USDT.
Fees vary between 35 to 100 bolivianos ($5 to $14.5), depending on the amount.
Additionally, transfers to dollar accounts abroad cost 280 bolivianos ($40.5), making it an appealing choice for those using cryptocurrencies for international payments.
Franco Urquidi, the vice president of business at Banco Bisa, revealed that customers would undergo a verification process, which “gives them the peace of mind that their transactions are carried out through secure and reliable channels.”
“The future looks bright for those looking to explore the world of cryptocurrencies in Bolivia.”
