Peru Banks Eye Stablecoin FX, 0 Launched
A BCG executive says Peru banks can earn exchange fees from stablecoins, yet no bank has launched one. BCP's supervised crypto pilot admits 3,000 clients. The post Peru Banks Eye Stablecoin FX, 0 Launched appeared first on The Rio Times .
Peruvian banks could potentially earn fees by converting Peruvian soles into dollar-linked stablecoins, according to a Boston Consulting Group executive. No Peruvian bank has announced such a service, so the possibility remains unconfirmed. USDC, a stablecoin pegged to the US dollar, is issued by a US-regulated company called Circle.
Banco de Crédito del Perú (BCP), Peru's largest bank, launched a pilot program called CriptoCocos in October 2025, allowing approved clients to buy and sell bitcoin and USDC. The SBS, Peru's banking, insurance and pension regulator, authorized the pilot and it operates within the SBS regulatory sandbox. BCP imposes a 1% commission on each purchase or sale.
Peru does not have a specific crypto law, and BCP's pilot runs in a sandbox, subject only to an SBS anti-money-laundering resolution requiring virtual asset service providers to register with the financial intelligence unit. Despite a blockchain-analytics estimate of 1.28 million Peruvian crypto users as of June 2025, the pilot's current usage is limited, with an average trade of about $250 in December 2025.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
