First Peruvian Bank Offers Crypto Trading
Peru is entering a new era of digital finance. The country’s largest bank, Banco de Crédito del Perú (BCP), has launched a pilot platform allowing clients to buy and hold bitcoin and USDC in a regulated environment. The project, called Cryptococos, has been approved by the national banking regulator — marking the first time a Peruvian bank has official authorization to provide crypto-related services.
A secure, closed system
The pilot project targets selected clients who already have a banking history with BCP, complete registration, and fill out an investment questionnaire. All crypto trades occur within a closed system, meaning cryptocurrencies cannot be transferred to external wallets. The goal is to ensure full transaction traceability and compliance with anti-money laundering regulations.
Digital asset custody is handled by U.S.-based BitGo, a long-standing provider of institutional-grade security infrastructure. BCP is the largest and oldest financial institution in Peru — founded in 1889, it managed assets worth $52 billion by the end of 2024.
Cryptocurrencies gaining ground in Peru
While the use of cryptocurrencies is legal in Peru, a clear regulatory framework has been missing. The space has therefore been dominated by fintech companies. The most prominent is Lemon Cash from Argentina, which entered the market in August 2024. It combines a local license for transfers in Peruvian soles with a Salvadoran license for crypto trading. Within a year, it reached 1 million users and issued 150,000 Visa cards. Recently, it raised $20 million in Series B funding to expand further across Latin America.
The state embraces digital assets
The Peruvian central bank BCRP launched its digital sol in 2024 — a central bank digital currency aimed at improving access to financial services in rural areas.
Next year, the country plans to pilot digital voting using Blockchain technology, ahead of the national elections in April 2026.
BCP is the first traditional bank in Peru to offer official access to cryptocurrencies. If the pilot succeeds, the bank plans to expand the service to a broader customer base.
Sources:
https://cointelegraph.com/news/bcp-first-peruvian-bank-regulated-crypto