Colombia Bogota Bank Launches Cryptocurrency Pilot Phase 2 With Exchanges

On September 2, Colombia's first commercial bank, Bank of Bogota, announced the next phase of the cryptocurrency pilot, where 5,000 users can use their tokens for a period of money payment and lending platforms. Bitso and Buda cryptocurrency exchange. And it's part of a cryptocurrency sandbox project run by Superintendencia Financiera, one of the country's largest financial managers. He predicted that fiat payments would be converted into cryptocurrency and held on the Bitso and Buda exchanges. According to another announcement from Semana, the Buda interface will be ready this month, the Bitso platform will be ready for October and new services will allow "cash deposit and withdrawal". The pilot will be extended for a year, after which the Superfinanciera will measure the results and report to the government. The first phase of the trial began in March of this year, and it is known that all 25-year-old users can deposit and withdraw cryptocurrency on mobile and desktop banking platforms. (crypto news)