The biggest bank in Guatemala, Banco Industrial, adopted the Blockchain Sukupay’s Stablecoin Rails company so that customers can send funds from the United States
Sukupay will allow Guatemalans to receive funds from the United States for stable costs of 99 cents using only a telephone number in their Banco Industrial Zigi mobile application, according to an announcement by email on Wednesday.
“This integration marks the first time that a crypto-swimming protocol is put online at this depth within a high-level Latin American retail bank,” said Sukupay in the announcement.
Sukupay developer, Suku, unveiled the payment tool in April 2024 to allow cross -border money transfers without the need to create a cryptographic portfolio. It is built on Ethereum Scaling Network Polygon and uses Stablecoin USDC.
Stablecoins, now an asset class of almost $ 230 billion, are one of the most practical stories of success in crypto. Armatured to fiduciary currencies such as the US dollar, they have become popular tools for payments, sending funds and savings, especially in developing countries where banking access is limited or local currencies are volatile.
The integration of Sukupay into Banco Industrial underlines the trend in the way in which rails based on blockchain are quietly entering the dominant financial current, not as an investment vehicles but as an invisible plumbing for the movement of the real world.
Shipments to Guatemala have about $ 21 billion a year, or almost 20% of the country’s GDP.
According to Findex from Findex data, only 35% of Guatemah adults had access to formal bank accounts from 2022.
