In a groundbreaking move for Peru’s financial landscape, Banco de Crédito del Perú (BCP) has officially launched Criptococos, the country’s first crypto banking platform, powered by BitGo.
The platform marks a historic milestone, bridging traditional banking with the fast-evolving world of digital assets.
Operating under a pilot program authorized by the Superintendency of Banking, Insurance, and Pension Fund Administrators (SBS), Criptococos allows clients to securely buy and manage Bitcoin (BTC) and USDC, a stablecoin pegged to the U.S. dollar.
With this initiative, BCP aims to provide a safe, regulated environment for cryptocurrency transactions, leveraging BitGo’s institutional-grade custody and compliance infrastructure.
This marks Peru’s first significant step toward integrating blockchain-based financial services within its regulated banking ecosystem.
BCP and BitGo: Strategic Alliance in Financial Innovation
BCP, the largest and oldest bank in Peru, has a strong reputation for digital innovation and customer trust.
By partnering with BitGo, a global leader in digital asset infrastructure and custody, BCP reinforces its commitment to advancing financial technology while maintaining the highest levels of security and regulatory compliance.
According to BCP’s leadership, the launch of Criptococos is part of its long-term vision to modernize the Peruvian financial system.
BitGo, meanwhile, sees this partnership as an opportunity to expand secure digital asset access across Latin America, one of the fastest-growing crypto adoption regions in the world.
This alliance symbolizes a new era where traditional banking meets blockchain technology, setting a new precedent for how established financial institutions can safely adopt crypto services.
Features of the Criptococos Platform
| Feature | Description |
|---|---|
| Supported Assets | Bitcoin (BTC) and USDC (U.S. dollar–pegged stablecoin) |
| Transaction Mode | Closed-loop system (no external wallet transfers) |
| Custody Partner | BitGo Trust Company, Inc. |
| Regulatory Authorization | Pilot approved by SBS (Superintendency of Banking, Insurance, and Pension Fund Administrators) |
| User Eligibility | Existing BCP clients with verified banking history and completed risk assessment |
| Compliance Focus | Anti-money laundering (AML) and counter-terrorism financing (CTF) policies |
| Security Structure | Segregated accounts and institutional-grade custody |
| Launch Objective | Provide secure, traceable access to digital assets under Peru’s banking regulations |
How the Platform Works
- Registration and Verification
Only existing BCP clients can register for Criptococos. They must meet specific eligibility criteria, including banking history verification and successful completion of a crypto asset risk evaluation. - Buying and Selling Crypto
Customers can buy and sell Bitcoin and USDC through a simple interface directly linked to their BCP accounts. - Closed-Loop Transactions
Transactions occur entirely within the Criptococos platform. Users cannot transfer assets to external wallets, ensuring traceability and compliance with regulatory requirements. - Custody and Security
All crypto assets are held in BitGo’s segregated custody accounts, ensuring the highest level of protection for client holdings. - Transparency and Monitoring
Every transaction is fully traceable. Compliance systems automatically monitor and verify operations under Peru’s financial regulations.
Objectives and Vision Behind Criptococos
The primary goal of Criptococos is to create a secure bridge between traditional banking and digital finance. BCP recognizes that while demand for cryptocurrencies is growing rapidly, most retail and institutional investors in Peru lack safe and regulated channels to access them.
Criptococos aims to fill this gap by offering:
- Security: BitGo’s custody solutions safeguard user funds through institutional-grade infrastructure.
- Trust: Operating under the supervision of SBS provides confidence to users and regulators alike.
- Transparency: All transactions remain within a monitored and traceable environment.
- Education: The platform includes resources for users to understand investment risks associated with crypto assets.
This approach positions BCP as a regional pioneer in responsible crypto adoption, paving the way for other banks to follow.
Future Outlook and Expansion Plans
The pilot phase of Criptococos will allow BCP to collect data, test compliance mechanisms, and understand customer behavior in real-time. Once the pilot is complete, the bank plans to gradually expand:
- Adding More Cryptocurrencies: Introducing Ethereum and other regulated digital assets.
- Opening External Transfers: Allowing interoperability with other wallets and exchanges under strict compliance rules.
- Expanding Access: Offering services to a larger portion of BCP’s 8 million clients.
- Integrating Blockchain-Based Services: Exploring tokenized assets, smart contracts, and blockchain payments.
This gradual, compliant growth approach will help ensure both innovation and financial stability.
The launch of Criptococos by BCP, in partnership with BitGo, represents a historic transformation in Peru’s financial industry.
For the first time, a regulated banking institution is offering secure access to digital assets under the supervision of national authorities.
This initiative not only reinforces BCP’s leadership in innovation but also demonstrates Peru’s readiness to embrace the future of finance—one that merges the reliability of traditional banking with the efficiency and transparency of blockchain technology.
