Colombia’s First Commercial Bank to Pilot Crypto Services
Banco de Bogotá will use the test to explore business models and risks around crypto assets.
The solution, called “Confirm,” will enable participating banks to confirm recipients’ account information ahead of making payments in near-real time.
Deputy Governor Adamu Lamtek said the CBN is not discouraging people from trading in cryptocurrency.
Trading, custody and financing are all said to be under consideration by the U.S. banking giant.
Clients will be able to trade crypto assets and use a custody service based in Switzerland.
The private bank is also investigating tokenization of assets, it announced Sunday.