Retail bank BBVA leads the way for Latin American banks in using cryptos for improving efficiency

October 8, 2018

The UTEMIS Value Proposition is focused, among other things, on facilitating affordable transactions for Latin American companies. An opportunity that was unavailable until recently.

The major retail bank BBVA, a dominant player in the Latin American market, published a note recently that explains that retail banks in the region have a lot to benefit from a cryptocurrency for improving efficiency.

BBVA is not only saying that but it is also pioneering this use of cryptos for Latin American banks, for instance, the bank has been testing Ripple for sending bank transfers recently.

Retail banks have a long way to go in Latin America to develop a service similar to the payment method offered at UTEMIS. But these efforts should at least point out that the problem that UTEMIS is trying to solve has been extensively identified by the major companies in the region and that there is a consensus that something needs to be done to solve this situation and improve the working conditions of millions of companies that are today deprived of an affordable bank transfer service.