As a seasoned investor with a global perspective, I find the recent development in Bolivia’s financial landscape intriguing and promising. Having navigated through various markets and regulatory environments, I appreciate the cautious yet progressive approach that Banco Bisa has taken with their new USDT custody service.
A significant Bolivian bank, Banco Bisa, has introduced a custody service supporting Tether’s USDT stablecoin, enabling customers to purchase and trade cryptocurrencies.
As a crypto investor, I recently learned that Banco Bisa has officially rolled out a custody service tailored for virtual assets, primarily focusing on the Tether (USDT) stablecoin. This new service allows me to securely store USDT funds and facilitates international transfers and payments using this stablecoin. According to El Deber’s report, this is a significant step forward in the adoption and accessibility of cryptocurrencies within our local market.
According to Franco Urquidi, the Vice President of Business at Banco Bisa, it is essential that all transactions involving USDT are carried out between accounts that are registered with Banco Bisa. This measure ensures the safety and protection of those who own USDT.
He underscored the significance of broadening digital asset education for Bolivians. For safety reasons, the bank collaborates with global custodians and cryptocurrency platforms. Additionally, the company has implemented stricter measures to bolster data security and combat illegal transactions.
According to Urquidi, our clients undergo a thorough check-up procedure, ensuring them confidence that their transactions take place via trustworthy and dependable pathways.
As a crypto investor, I appreciate the opportunity to work with the bank and utilize their USDT service, which accepts a minimum investment of 200 USD and caps daily purchases at 10,000 USD. For transactions within this digital currency, there’s a service fee that fluctuates between $4.90 (35 BOB) and $14.00 (100 BOB), depending on the transaction amount. It’s also worth noting that international transfers from USDT to dollar accounts incur a higher fee of 280 BOB, equivalent to approximately $39.20.
As a researcher reporting on this topic, I’d say: “I, as an observer, have learned that Yvette Espinoza, a representative from Bolivia’s financial oversight body, Autoridad de Supervisión del Sistema Financiero, has endorsed a cryptocurrency custody service offered by a local bank. In her statement, she emphasized that this service ensures clients can conduct crypto transactions in compliance with the regulatory framework established within Bolivia.
As a researcher, I’m excited to share about our new custody service. This innovative tool empowers our clients to execute numerous transactions securely within the complex cryptocurrency market. By utilizing this service, we aim to minimize the potential risks associated with unsafe interactions, thereby enhancing overall safety and security in digital currency exchanges.
In 2014, Bolivia prohibited the utilization of cryptocurrencies, stating that using Bitcoin was forbidden within the nation. This ban encompassed any digital currencies not sanctioned or overseen by the Bolivian government.
On June 28, Bolivia removed its ban on Bitcoin and other cryptocurrencies, thereby allowing financial institutions to provide services involving these digital assets.
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2024-10-28 14:52