One of Bolivia's largest banks has officially launched a digital asset storage service. Now the financial institution's clients will be able to conduct transactions using stablecoin Tether (USDT).
Banco Bisa Vice President Franco Urquidi said that all USDT transactions will be carried out from accounts registered with the bank. This way, the organization will be able to ensure the security of assets through cooperation with international custodians and cryptocurrency exchanges.
Our clients undergo thorough verification, which gives them confidence that their transactions are carried out through safe and secure channels,” said Urquidi.
Banco Bisa clients have a limit on cryptocurrency transactions of 200 USDT to 10 USDT per day. The bank charges a fee of 000 to 35 bolivianos ($100-$4,90) for crypto transactions. For international transfers, the fee will be 14 bolivianos ($280).
Bolivia's financial regulator, Yvette Espinosa, has welcomed Banco Bisa's cryptocurrency custody proposal, saying the service will allow customers to transact digital assets in accordance with the country's laws.
Let us recall that on June 28, the Bolivian authorities lifted the ban on cryptocurrencies established in 2014. This allowed financial institutions to provide crypto services.
