🇨🇴 Leading Colombian bank launches crypto exchange and peso stablecoin 🇨🇴

💎 The Colombian bank behind the crypto exchange claimed the platform was created after nearly a decade of study and research.

Colombia’s largest bank, Bancolombia Group, entered the crypto business by launching its crypto exchange, Wenia. The crypto platform aims to on-board 60,000 users in its first year and compete with Binance and Bitso.

🚀 Along with a crypto exchange, the Colombian bank also launched a peso stablecoin called COPW pegged at 1:1 parity with the Colombian peso.

The stablecoin will act as an onboarding solution for users on the exchange. Apart from the COPW stablecoin, Weina will allow trading of Bitcoin , Ether, USD Coin, and Polygon. To access Weina, traders must be Colombian nationals residing in the country.

💰 The banking giant aims to consolidate the high usage of cryptocurrency in Colombia by catering to both amateur and experienced crypto traders through its crypto platform.

Colombia ranks third among Latin American countries in terms of the highest adoption of crypto assets, as per the 2023 Global Crypto Adoption Index.

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