Tuesday, May 17, 2022
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Peru debuts first cryptocurrency bank

The Superintendence of Banking, Insurance and AFP (SBS) of Peru in Latin America approved the first cryptocurrency bank in the country.

The virtual bank in Peru is called Fluyez and works with 60 cryptocurrencies (including Bitcoin, Ethereum, Dogecoin, Bitcoin Cash, Litecoin, Ripple, Tron, Decentraland, among other well-known and little-known cryptocurrencies, as well as stablecoins).

Fluyez reports that it already has more than 5,000 verified users, so it projects to record US$150,000 as quarterly transaction volume in its first year of operations.

“Fluyez is a digital ecosystem based on cryptocurrencies that offers new products and services to all its users. The goal we have is to be a new and better option to the traditional banking system,” said Luis Berrospi, who is a founding partner of Fluyez virtual bank.

Fluyez’s prospects are to continue growing, just as the cryptocurrency market is growing.

Fluyez’s main products

Wallet: a virtual wallet for the custody of cryptocurrencies.

Rewards: Fluyez offers a retribution to users who ‘staking’ their digital assets from its platform, so that they can earn profits by saving in cryptocurrencies.

Loans: this option will be available in the coming months and is also related to the quality of Fluyez as a cryptobank. On the platform it will be possible to request a loan leaving as collateral the crypto savings.

On the SBS website, Fluyez is listed in the category of exchange houses, under Ruc 20607555681 and the name Fluyez Digital Investments S.A.C.

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