Guatemala’s largest bank, Banco Industrial, has fully integrated SukuPay into its mobile app Zigi to enable real-time and cheap remittances from the U.S.
According to the official press statement, this marks the first time a crypto payment protocol has been embedded at this level within a major Latin American retail bank’s consumer application.
$0.99 Remittances in Under 20 Seconds With Just a Phone Number
The SukuPay-powered experience allows Guatemalan users to receive U.S. remittances instantly using only their phone numbers. It requires no IBANs, crypto wallets, or additional apps. Transfers cost $0.99 and settle in under 20 seconds, 24/7, whether initiated through Apple Pay, debit cards, or cash at retailers like CVS or Walmart.
While stablecoin rails drive the speed and affordability behind the scenes, users interact only with their existing Zigi app, maintaining the familiar banking interface they trust.
Tackling a $21B Problem in Guatemala
For context, Guatemala receives over $21 billion annually in remittances, making it Latin America’s second-largest recipient after Mexico. Yet, traditional remittance systems are still slow, costly, and overly complex for the average user.
SukuPay addresses this by abstracting away the crypto complexity, embedding a blockchain solution within a user-centric experience. The move is a step toward modernizing financial infrastructure in emerging markets, especially for populations underserved by legacy banking.
By partnering with SukuPay, Banco Industrial has sidestepped the need to build a proprietary cross-border payments system. Instead, it gains a scalable, compliant infrastructure with minimal disruption to its core operations. This convenience comes with offering cutting-edge services to its millions of customers.
“This is not just a feature; It is an infrastructure upgrade,” said SukuPay CEO Yonathan Lapchik. “We are powering real-world payments that work for both the banked and the unbanked.”
Michel Caputi, Head of Strategic Alliances at Banco Industrial, added that by integrating SukuPay into Zigi, Banco Industrial is improving remittances and establishing a new standard in Latin America.
The Bigger Picture
The SukuPay–Banco Industrial partnership highlights the increasing adoption of stablecoins for cross-border transactions. The stablecoin market has surpassed $250 billion, with projections suggesting it could exceed $2 trillion by the end of the decade.
It also reflects a broader trend where crypto infrastructure is increasingly fading into the background. Rather than requiring users to understand blockchain technology, these solutions focus on delivering real-world outcomes, offering faster, cheaper, and more accessible payments.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
