Colombia’s First Commercial Bank Will Allow Users Transfer Money To Crypto Exchange

The mainstream adoption of crypto has been going great, and this is extremely important as it’s probably the main goal of the crypto space.

There have been a lot of moves made in this direction, and they are definitely continuing.

Colombia embraces crypto

For instance, CoinDesk just revealed that Banco de Bogotá, which is Colombia’s first commercial bank, plans to test allowing deposits and withdrawals with a crypto exchange.

“As part of a government-sponsored pilot to test banking services for crypto platforms, Banco de Bogotá will allow bank customers to send and withdraw money from Chilean crypto exchange Buda.com in August,” said Alejandro Beltrán, Colombia country manager for Buda.com as quoted by CoinDesk.

It’s also important to note the fact that even if the service is scheduled to start early in the month, both parties are still defining the terms and conditions of the contract, Beltrán told the same online publication that we mentioned above.

“Banco de Bogotá has been very detailed and careful in this process, which is understandable since it is entering a new world and they want to understand it in all its dimensions,” according to the executive.

We suggest that you check out the complete article in order to learn more news about the issue.

Bitcoin adoption in the news

In other recent relevant news, it’s been revealed that Glen Oaks Escrow which is one of the largest independent escrow companies in California, has facilitated its first refinancing through a Bitcoin-backed loan.

Glen Oaks Chief Operating Officer Joe Curtis commented the following as noted by the online publication The Bitcoinist:

“Seeing someone other than the home buyer use Bitcoin in a real estate transaction tells us that this technology has the potential to continue becoming more prominent, even if it is still considered new to our industry.”

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