The post Guatemala’s largest bank adds stablecoin remittance tech in app appeared on BitcoinEthereumNews.com.

In a regional first, SukuPay’s crypto-native payment infrastructure is now powering cross-border remittances inside Banco Industrial’s mobile app, Zigi — marking a significant shift in how Latin American banks adopt blockchain technology. The integration allows Guatemalan users to receive U.S.-based transfers in under 20 seconds via their existing banking app, for a flat fee of $0.99, according to a note shared with crypto.news.  Users can initiate payments with a debit card, Apple Pay, or cash through retail partners like Walmart and CVS. The system works using just a phone number, eliminating the need for IBANs, crypto wallets, or conversions. “This isn’t a feature — it’s a financial infrastructure upgrade,” said Yonathan Lapchik, CEO of SukuPay. “We’re powering real-world payments that actually work for real people — banked or unbanked.” Inefficiencies addressed  Remittances are a vital lifeline for Latin America, with Guatemala alone receiving over $21 billion annually. Traditional systems are often costly and slow.  SukuPay addresses these inefficiencies by embedding stablecoin-based transfers directly into a regulated banking environment — invisible to the user, but transformative under the hood. Banco Industrial chose to integrate SukuPay rather than build its own cross-border infrastructure.  “With SukuPay’s infrastructure embedded directly into Zigi, we’re not just improving remittances, we’re setting a new standard,” said Michel Caputi, Head of Strategic Alliances at Banco Industrial. The partnership may serve as a model for banks across the region looking to modernize without building from scratch or forcing customers to engage directly with crypto technology. Source: https://crypto.news/guatemalas-largest-bank-adds-stablecoin-remittance-tech-in-app/

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Filed under: News - @ May 22, 2025 4:28 am