A new banking platform integrating digital asset operations into the traditional financial system began operating in Peru. The initiative was launched as part of a pilot project approved by the local regulator.
Banco de Crédito del Perú (BCP), the largest bank in Peru, announced the launch of Criptococos, the country’s first banking platform that allows clients to buy and store crypto within a regulated ecosystem. The project was implemented in partnership with the U.S.-based company BitGo and became part of a pilot program approved by the Superintendency of Banking, Insurance, and Pension Fund Administration (SBS).
Banco de Crédito del Perú (BCP) is the oldest and largest bank in Peru, founded in 1889 and part of the financial holding Credicorp. As of 2023, the bank’s assets totaled 179.23 billion Peruvian soles (~$39 billion). BCP serves over 11 million clients.
At the initial stage, Criptococos users will be able to conduct operations with BTC and the USDC stablecoin, both integrated into BCP’s banking system. All transactions will occur within a closed ecosystem without the withdrawal of funds to external platforms, ensuring full traceability and compliance with anti-money laundering and counter-terrorism financing standards. To access the platform, clients will need to meet certain requirements, including a minimum service history with the bank and a completed investment risk assessment.
Asset custody will be provided through BitGo Trust Company’s custodial structure, offering segregated accounts and a high level of protection in line with international regulatory standards. According to Lenin Tarrillo, Head of Crypto and Blockchain at BCP, the launch of Criptococos marks an important step in integrating digital assets into Peru’s traditional banking system and opens access for clients to cryptocurrencies within a regulated financial infrastructure.
Residents of Latin America are active crypto users. According to 2024 statistics, more than 9% of the global volume of cryptocurrency transactions originated from users in Latin America — local exchanges processed crypto operations worth $27 billion. Analysts predict that by 2030, the share of digital transactions in the LATAM e-commerce market could grow to 66%, encouraging regional banks to offer various innovative solutions for their clients.
