Fintech Platform Nequi Plans to Get Into the Cryptocurrency Business in Colombia

Nequi, a fintech neobank which allowed Colombian citizens to trial all-digital fiscal services, has announced its plans for enlargement aft having parted ways with Bancolombia, the slope that gave it its origin. These plans see an introduction into the cryptocurrency satellite portion complying with the limits acceptable by existent regulators.

Colombian Nequi to Enter Crypto Market

More and much neobanks are considering including cryptocurrencies successful their work offerings. This is the lawsuit with Nequi, a fintech level that is reportedly considering making an entranceway into the crypto assemblage successful Colombia. The platform, which has much than 10 cardinal customers, is present successful talks to go an autarkic institution and platform, separating itself from Bancolombia.

The announcement was made by Nequi’s CEO, Cipriano Lopez, successful a webinar with Credicorp Capital, a holding institution that besides lends fiscal services to its customers. Lopez explained that Nequi wants to marque a nonstop introduction into the market, with compliance being 1 of its archetypal concerns.

Nequi is presently awaiting regulatory support to go an autarkic fiscal institution successful bid to use the improvements and caller plans envisioned.

Strategy, Pandemic, and Growth

The inclusion of cryptocurrency and different caller features successful the app is portion of Nequi’s strategy to support increasing and adding caller users. The level managed to turn enormously adjacent during the pandemic, having gained implicit 4 cardinal customers during this clip owed to its all-digital concern model.

This caller circular of changes to the app are expected to beryllium executed successful Q3 2022, with the separation from Bancolombia being the catalyst for the caller signifier of its fiscal products. The CEO besides declared that the app would beryllium introducing caller services that volition let Colombians to apical up nationalist proscription cards, marque summons purchases — among different services — and to powerfulness the adoption of the platform.

Lopez is definite that the institution volition beryllium profitable successful the adjacent months, and these plans are directed to execute this goal. But the institution is not yet profitable, adjacent aft having received subsidies from the authorities owed to its integer nature. The caller strategy would see giving credits to dense users of the level that person capable liquidity to wage for them.

Colombia is presently seen arsenic a increasing crypto hub by companies similar Bitso, a Mexico-based speech that announced its enlargement to the state successful February.

What bash you deliberation astir Nequi getting into the cryptocurrency business? Tell america successful the comments conception below.

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