Colombian Banks To Work With Exchanges On Year-Long Crypto Pilot

Colombian banks are set to form an unlikely alliance, with some of the nation’s biggest crypto exchanges set to work together on a cryptoasset transactions pilot.

Per Semana, the pilot will, in most cases see crypto exchanges join forces with a bank to test how financial institutions can use crypto to conduct transactions – and whether it can indeed speed payments and improve efficiency.

The pilot will take place within a newly constructed regulatory sandbox, the brainchild of the Financial Superintendence (Superintendencia Financiera or Superfinanciera), one of the nation’s top financial regulators.