Algorand can reinvent financial infrastructure in LatAm.

Written by Algorand Foundation | Nov 13, 2024 5:00:00 AM

Under-investment in financial infrastructure, combined with a lack of trust and inaccessibility of banking services due to cost and documentation requirements, have left many people in Latin America excluded from the traditional economy. This has created an environment ripe for the adoption of new, more efficient fintech solutions. Enter: Koibanx. By leveraging the Algorand blockchain, Koibanx has been able to play a part in digitizing and bringing greater efficiency and trust to Latin America’s banking sector.

"When dealing with regulated financial institutions, scalability, uptime, and guaranteed performance are key. Not only because of customer experience, but due to compliance requirements as well. Blockchain technology brings a lot of innovation for the financial markets, but if we don’t find a way to have this innovation coexist with the regulatory requirements, it will not succeed. Luckily, we have Algorand, where the web3 potential meets the technological & compliance requirements of the financial system."

- Leo Elduayen, Co-founder and CEO, Koibanx

Key benefits

Koibanx’s regulated, end-to-end, blockchain-based transactional software connects to the core of banking infrastructure, making it as easy to integrate as any API.
Financial institutions can tokenize and program assets, plus integrate crypto functionalities like buy/sell/trade and other TradFi connectors like on/off ramps and payment processors – all in one solution.
The platform offers solutions for instant transfers from the US to nine different countries in LatAm, enabling fast, secure, and affordable cross-border settlements.

PARTNERS:

Banco Davivienda
Grupo Salinas
Banco Macro
FinConecta

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