Gemini cryptocurrency exchange has entered into a partnership with the largest bank in Colombia, Bancolombia, under which the bank’s clients will have access to digital asset trading.
We recently partnered with @Bancolombia to provide their customers with a seamless onramp to trade $BTC, $ETH, $LTC, and $BCH through the Gemini exchange!??
We're excited to work closely with the Colombian crypto ecosystem and grow our presence in LATAM⬇️https://t.co/V1VA8lFdQJ— Gemini (@Gemini) December 6, 2021
The exchange said in a statement that Bancolombia clients will have access to cryptocurrency trading as early as December 14th. At the start, the range of digital assets will be quite limited, the bank’s clients will be able to trade BTC, ETH, LTC, and BCH. It is not yet known whether the withdrawal of purchased cryptocurrencies to other wallets will be available or not.
The exchange said in a statement:
“At Gemini, we are excited about opportunities for growth in Latin America, one of the most promising international markets for crypto adoption.”
The partnership between the bank and the Gemini exchange was made possible through a one-year pilot program run by Superintendencia Financiera de Colombia (SFC). The country’s financial regulator has selected nine cryptocurrency firms that will be able to operate in the Colombian market.
In Latin America, Gemini is present in the markets of Argentina, Brazil, Chile, El Salvador, Panama, Peru, and Uruguay. Earlier, the CEO of Uphold, JP Thieriot, said that it was the countries of Latin America that would become the leaders in the adoption of bitcoin due to the large number of people who do not have access to banking services.
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