Bancolombia Group, one of the largest banks in Latin America, is stepping into the cryptocurrency world. Bancolombia, Colombia's leading bank, is launching a new cryptocurrency exchange called Wenia, which will rival major exchanges such as Bitso and Binance.
According to Juan Carlos Mora, President of Bancolombia Group, the Wenia project is the result of a decade of work to make digital assets safe and easy to use in the country. Mora stated that Wenia will both increase financial inclusion and make significant contributions to Colombia's digital economy.
With a 146-year history, the banking giant aims to reach 60 thousand users in the first year of Wenia. In addition, Wenia has developed a stablecoin called COPW so that users can save in Colombian pesos. COPW will be traded on the exchange alongside other major cryptocurrencies such as Bitcoin, Ethereum, USDC and MATIC.
