Peru has taken a major step toward integrating digital assets into its financial system with the launch of Cryptococos, the country’s first regulated cryptocurrency platform. Developed by Banco de Crédito del Perú (BCP), this pilot program allows select clients to securely buy and hold Bitcoin (BTC) and USD Coin (USDC).
This milestone marks Peru’s first official move into the regulated crypto space, signaling growing interest from both financial institutions and regulators in embracing blockchain technology and digital finance.
BCP Partners with BitGo to Launch a Closed-Loop Crypto System
BCP, Peru’s oldest and largest bank, is working with BitGo, a leading global crypto custodian, to ensure the secure storage and handling of digital assets within the Cryptococos platform. The pilot is not open to the general public—only pre-selected clients with an established banking history at BCP can participate.
To join the pilot, users must:
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Register through BCP’s platform
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Pass a risk assessment
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Meet eligibility criteria based on their banking history
Approved users can buy, hold, and trade Bitcoin and USDC within a closed-loop environment, which means that all transactions stay within BCP’s ecosystem. This setup is designed to fully comply with anti-money laundering (AML) regulations and ensure transparency.
Growing Interest in Digital Assets and Financial Innovation in Peru
The launch of Cryptococos comes at a time when interest in cryptocurrencies is rising rapidly across Latin America, and especially in Peru. Lemon Cash, a crypto fintech originally from Argentina, has already gained significant traction in the country, reaching over 1 million users since its launch.
Meanwhile, the Central Reserve Bank of Peru is actively exploring the possibility of introducing a central bank digital currency (CBDC). This initiative aims to improve financial inclusion, especially in rural and underserved areas where traditional banking services remain limited.
With BCP taking the lead, Peru is positioning itself to become a serious player in the digital asset space. As regulations evolve and public interest grows, more financial institutions are likely to follow suit—creating a more inclusive and secure crypto ecosystem for the country.
