Cryptocurrency

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<ul>
 <li>Banco Bisa has launched USDT services, enabling secure cryptocurrency transactions in Bolivia.</li>
 <li>The service is accessible through Banco Bisa’s website and provides extensive transaction features including international payments and asset custody.</li>
</ul>
In a significant development for the Bolivian financial sector, Banco Bisa has rolled out services for handling transactions involving the Tether stablecoin, or USDT. This service facilitates the purchase, sale, and transfer of USDT, highlighting a significant shift towards the adoption of digital assets in <a href="https://www.ethnews.com/bolivia-embraces-bitcoin-central-bank-initiates-a-new-era-for-crypto-in-trade-and-production/" rel="noopener noreferrer nofollow">Bolivia</a>.
Service Overview Banco Bisa’s new offering ensures that all <a href="https://www.ethnews.com/mexc-partners-with-aptos-to-launch-events-featuring-a-1-5-million-usdt-prize-pool/" rel="noopener noreferrer nofollow">USDT</a> transactions are processed securely through accounts maintained at the bank, ensuring both safety and compliance with financial regulations. According to Franco Urquidi, the Vice President of Economics at Banco Bisa, the design of these services is focused on providing secure and seamless financial transactions for the bank’s clientele, catering particularly to those needing international financial transfer capabilities, such as families with students abroad. Customers can hold <a href="https://www.ethnews.com/allbridge-unveils-new-usdt-gateway-to-solana-bolstering-cryptocurrency-interoperability/" rel="noopener noreferrer nofollow">USDT</a> indefinitely, offering a stable method to manage international payments without the risk of currency fluctuations.
Financial Inclusion and Education Aligned with its innovative service launch, Banco Bisa is committed to educating its customers on the effective use of digital assets. Urquidi stressed the importance of financial literacy in maximizing the benefits of digital currencies. The bank supports this educational thrust by partnering with international custodians and exchanges, thus enhancing the security of client data and preventing illegal activities.
The platform sets transaction limits with a minimum purchase requirement of 200 USDT and a maximum daily limit of 10,000 USDT. Transaction fees are scaled based on the amount, with sales up to 5,000 USDT incurring a 35 Bolivianos fee, and larger transactions costing 100 Bolivianos. Additionally, transferring <a href="https://www.ethnews.com/bybit-announces-24-hour-flash-airdrop-new-100000-usdt-prize-pool-for-wsot-2024-participants/" rel="noopener noreferrer nofollow">USDT</a> to a dollar account overseas involves a fixed fee of 280 Bolivianos, covering various operational costs.
Regulatory Support and Future Prospects The introduction of these services coincides with a significant upswing in cryptocurrency transactions in Bolivia. This surge follows the Central Bank’s recent decision to lift previous restrictions on cryptocurrency dealings, permitting banks to conduct these transactions through authorized electronic channels. The ensuing months saw a doubling of crypto transactions, indicating robust growth in this sector.
Banco Bisa’s strategic initiative not only marks a critical step in integrating cryptocurrencies into Bolivia’s financial ecosystem but also reflects the broader regional trend towards digital asset adoption. With its vibrant trading culture and a regulatory environment that increasingly supports digital finance, Bolivia is well-positioned to become a leader in cryptocurrency usage in <a href="https://www.ethnews.com/uruguay-spearheads-bitcoin-and-cryptocurrency-legislation-in-latin-america/" rel="noopener noreferrer nofollow">Latin America</a>.
The post <a href="https://www.ethnews.com/banco-bisa-introduces-tether-cryptocurrency-services-in-bolivia/" rel="noopener noreferrer nofollow">Banco Bisa Introduces Tether Cryptocurrency Services in Bolivia</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.

Banco Bisa Introduces Tether Cryptocurrency Services in Bolivia

ETHNews

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