The Superintendency of Banks of Guatemala (SIB Guatemala) held its second hybrid assembly with the Fintech Committee of the Central American Council of Superintendents of Banks, Insurance and Other Financial Institutions (CCSBSO), the place they addressed monetary innovation and new applied sciences.
Guatemala has distinguished itself by its openness to cryptocurrencies, which has been mirrored in the arrival of World ID, digital remittances, coaching in Ethereum, the touchdown of Strike, in addition to experimental Bitcoin Lake and mining tasks in the municipality of Panajachel .
SIB Guatemala and CCSBSO discuss Bitcoin adoption in El Salvador
The SIB Guatemala revealed a gathering days in the past in El Salvador, between FinTechs, banks and governments, to deal with key points reminiscent of: the innovation maturity index, which was proposed by the Central American nation, in addition to the modernization of monetary services in the area.
On the different hand, they addressed the expertise of the Superintendency of the Financial System in the supervision of Bitcoin service suppliers in El Salvador (platforms, exchanges, FinTechs). Companies that supply crypto services reminiscent of World, Strike and Mastercard already function in Guatemala.
Read extra: Best cryptocurrency exchanges in Latin America
The SIB Guatemala identified that it additionally addressed different matters of curiosity in El Salvador, reminiscent of the evolution of applied sciences and digital transformation, each for regulated entities and for the regulators themselves. El Salvador has carried out the use of Bitcoin as authorized tender for greater than three years.
Days in the past, Finnovista revealed that international locations like Argentina and Brazil are positioned at the forefront of digital transformation on the continent, and in crypto adoption, as increasingly folks flip to cryptocurrencies – primarily stablecoins– as an financial refuge, which has positioned the nation as a pacesetter in cryptocurrency adoption in the area.
Meanwhile, FinTechs additionally foresee a rise in earnings in the coming years. This is because of accelerated digitalization and a rising demand for agile and accessible monetary services. Argentina, together with international locations reminiscent of Mexico, Chile and Colombia, stands out in the area.
Crypto adoption grows in Guatemala
Therefore, exchanges They want to increase their crypto services in the area, as El Dorado not too long ago revealed. He introduced his alliance with TRON DAO to advertise the adoption of stablecoins of USDT from Tether with out commissions. Additionally, it will implement one of the first GASLESS transactions (stablecoin switch with out paying charges) to stablecoins in the world.
Read extra: Regulation of cryptocurrencies in Latin America (Part One)
El Dorado famous that they’ll search to advertise the adoption of USDT in Latin America, however commission-free by GASLESS. TRON hosts the largest circulating provide in the world stablecoin Tether USDT. El Dorado carried out some checks in Venezuela, the place it carried out the first GASLESS USDT transactions by the TRON DAO community:
“Accessibility should not be a luxury. With blockchain, what was once out of reach is now becoming the norm, leveling the playing field for people around the world.”
Disclaimer
Disclaimer: In compliance with Trust Project pointers, BeInCrypto is dedicated to offering unbiased and clear reporting. This information article is meant to supply correct and well timed data. However, readers are suggested to independently confirm info and seek the advice of knowledgeable earlier than making any choices primarily based on this content material.
