Colombia’s largest bank to offer access to cryptocurrencies in partnership with Gemini.

Gemini, the cryptocurrency exchange, has struck a partnership with Colombia’s largest bank Bancolombia. Its customers will receive seamless access to Bitcoin, Ethereum, Litecoin and Bitcoin Cash through the company’s platform.

We recently partnered with @Bancolombia to provide their customers with a seamless onramp to trade $BTC, $ETH, $LTC, and $BCH through the Gemini exchange!🇨🇴
We’re excited to work closely with the Colombian crypto ecosystem and grow our presence in LATAM⬇️https://t.co/V1VA8lFdQJ

— Gemini (@Gemini) December 6, 2021

The initiative is part of the pilot program under the supervision of the Financial Superintendency of Colombia (SFC), launched earlier this year. In March, Banco de Bogotá joined the experiment, which is assessing the business model and risks associated with processing digital assets.

On December 14, the first group of Bancolombia clients will gain access to cryptocurrency trading. It is not known who exactly was included. The parties also did not specify whether users will be able to withdraw funds.

“This partnership is an important step on the path to strategically expanding its presence in Latin America. We look forward to working closely with the Colombian crypto ecosystem and supporting products that will empower Colombians to take control of their finances,” said Cynthia del Pozo García, Gemini’s Director of Strategy and Corporate Development.

In January 2021, the SFC approved nine cryptocurrency exchanges that would participate in the pilot project. Besides Gemini, Binance, Bitso and others were included.

Earlier in the month, Colombia published a Bitcoin white paper on the government website.  

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