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

By Coinness

Canonical URL: https://www.tokenpost.com/news/regulation/6325
Published: 2021-02-02T09:51:03.000Z
Updated: 2021-02-02T12:51:05.000Z
Section: Business

> 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.

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.