Guatemala’s largest bank, Banco Industrial, has adopted Blockchain -Company Sukupays StableCoin Rails for customers to send transfers from USA
Sukupay allows Guatemalans to receive funds from the US against a flat fee of 99 cents using only one phone number in their Banco Industrial Mobile App Zigi, according to an E email message on Wednesday.
“This integration first marks that a crypto-native protocol has gone alive at this depth inside a top level Latin American retail bank,” Sukupay said in the announcement.
Sukupays Developer SUKU revealed the payment tool in April 2024 as a way to allow cross-border money transfers without the need to create a crypto-design book. It is built on Ethereum scaling network polygon and uses USDC stableecoin.
Stablecoins, now an asset class of $ 230 billion, is one of Crypto’s most practical success stories. They are linked to Fiat currency such as the US dollar, they have become popular tools for payments, transfers and savings – especially in developing countries where bank access is limited or local currencies are unstable.
Sukupay’s integration into Banco Industrial emphasizes the trend how blockchain-based rails quietly enter the financial mainstream, not as investment vehicles, but as an invisible plumbing for the real world money movement.
Transfers to Guatemala number about $ 21 billion annually, which is almost 20% of the country’s GDP.
Only 35% of Guatemalan adults had access to formal bank accounts from 2022, according to the World Bank FUSTEX data, which made it an important market for tools that can improve financial inclusion.
