Banco de Crédito del Perú introduces Cryptococos, a pilot program authorized by Peru’s financial regulator, allowing clients to securely buy and hold Bitcoin and USDC under BitGo’s custody.
Peru has taken a historic step toward financial innovation as Banco de Crédito del Perú (BCP) becomes the first regulated Peruvian bank to offer access to digital assets. The country’s largest financial institution, managing over $52 billion in assets, has unveiled a pilot crypto platform named Cryptococos, authorized by the national banking regulator. The project allows select clients to buy and hold Bitcoin (BTC) and USDC, marking a regulated entry of traditional banking into Peru’s growing crypto landscape.
According to the official announcement, BCP’s crypto initiative is designed to operate within a closed-loop system, ensuring all transactions are executed exclusively on the platform. This model prevents external wallet transfers and enhances traceability and compliance with anti–money laundering (AML) and counter–terrorism financing (CTF) standards.
To join the pilot, users must maintain a verified banking history with BCP and complete a risk assessment before purchasing digital assets. Custody and infrastructure are managed by BitGo, a U.S.-based firm specializing in secure crypto storage and trading for institutional clients.
“This project represents a major step in Peru’s financial evolution, bringing digital assets under regulated oversight while ensuring customer protection,” noted a senior executive from BCP’s innovation division.
The initiative comes as Peru’s regulatory landscape around cryptocurrencies begins to mature. Although crypto remains in a legal gray zone, authorities have increasingly shown openness to digital finance. In 2024, the Central Reserve Bank of Peru collaborated with Bitel to launch a digital sol, promoting financial inclusion in rural areas.
Meanwhile, regional fintech leaders like Lemon Cash have demonstrated growing demand. Since launching operations in Peru in 2024, the company has attracted over one million users and issued 150,000 Visa cards, proving the country’s appetite for digital alternatives.
“Peru’s next growth phase in crypto will depend on competition, user trust, and robust regulatory frameworks,” said Federico Biskupovich, Chief Operating Officer of Lemon Cash.
With BCP’s regulated pilot and increasing government support, Peru appears poised to become a regional hub for compliant digital finance, bridging the gap between traditional banking and blockchain-powered innovation.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.