Peru’s largest bank, BCP, has launched a pilot crypto platform authorized by the national regulator, allowing select clients to buy and hold Bitcoin and USDC.
Peru’s banking regulator has authorized a pilot crypto platform, marking the country’s first regulated foray into digital assets. The project, dubbed Cryptococos, will allow select clients of Banco de Crédito del Perú (BCP) to buy and hold Bitcoin and USDC under BitGo’s custody.
To participate in the pilot, users must register, prove a minimum banking history with BCP, and complete an investment risk assessment before purchasing, according to Thursday’s announcement.
Approved users will be able to buy and sell Bitcoin (BTC) and USDC (USDC) within a closed-loop system, meaning all transactions occur exclusively on the platform. This setup prevents transfers to external wallets and ensures “traceability and compliance with anti–money laundering and counter–terrorism financing regulations,” the companies said.
