Major Colombian bank launches cryptocurrency exchange
The Colombian bank behind the cryptocurrency exchange claimed that the platform was created after almost a decade of study and research.
Grupo Bancolombia, the largest bank in Colombia, entered the cryptocurrency business by launching its cryptocurrency exchange, Wenia. The cryptocurrency platform aims to onboard 60,000 users in its first year and compete with Binance and Bitso.
Along with a cryptocurrency exchange, the Colombian bank also launched a stablecoin called COPW, pegged at a 1:1 parity with the Colombian peso.
The stablecoin will act as an onboarding solution for the exchange's users. Aside from the COPW stablecoin, Wenia will enable Bitcoin trading
