Bolivia’s Banco Bisa Launches USDT Custody for Clients

Bolivia-based Banco Bisa has begun offering Tether stablecoin USDT custody. Customers can now buy, sell, and trade USDT through the bank, making Bolivia one of the first countries to embrace crypto. 

This news about USDT custody will assist Bolivians in engaging in digital assets. Read on to understand this better.

Banco Bisa’s New USDT Custody Service

Banco Bisa is happy to announce the new generation of its USDT custody service. The new service lets users save, trade, and even cross-border transfer USDT. This option through a regulated bank incorporates extra security measures into the transaction.

Customers will use the identification number approved by the VP of Business of Banco Bisa, Franco Urquidi, to prove that they conduct legal business. This extra layer of security is for those with concerns about certain threats.

Regulatory Backing in Bolivia

The Bolivian financial regulator ASFI has endorsed this change of tactics towards crypto. An ASFI representative and a spokesperson for Yvette Espinoza added that Banco Bisa’s service complies with Bolivian laws. The goal? To offer a favorable environment for crypto users without putting them through a volatile market.

From Crypto Ban to Adoption

Bolivia has been an opponent of crypto since 2014. It banned Bitcoin and other digital currencies to safeguard its people and currency. However, in 2024, Bolivia changed its heart. It removed the ban and permitted only centralized, regulated financial institutions to deal with cryptocurrencies. This decision eased the entry of institutions such as Banco Bisa, which facilitated interest in USDT custody in Bolivia.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.

We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence.

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