The residents of Colombia will be able to buy cryptocurrency from a bank account

Bancolombia and Gemini have teamed up to launch a new crypto service

07.12.2021 - 07:45

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What’s new? The US-based cryptocurrency exchange Gemini has finalized preparations for a project through which Colombians will be able to buy cryptocurrency from their bank accounts at Bancolombia, Del Pozo, strategy and corporate development lead at Gemini, said in a company blog post.

The Gemini blog post

What is the essence of the project? Starting December 14, Bancolombia and Gemini will launch a joint service through which people will be able to freely buy Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) directly from their bank accounts. The service is at an early stage, the test period will last one year. The access to it will be open only to a limited number of users.

How did Gemini's representative comment on the project? Cynthia Del Pozo expressed concern about the financial situation in Latin America and added:

“Our partnership will serve as an important step toward the strategic expansion of Gemini’s presence in Latin America. We look forward to working closely with the Colombian crypto ecosystem and to supporting crypto products that empower Colombians to take control of their financial lives.”

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