Colombian Bank Banco de Bogotá to Support Customers to Transfer funds to Crypto Exchange

Banco de Bogotá, a commercial bank headquartered in Colombia, will support customers to transfer funds to cryptocurrency exchanges for trading through its banking services.

The Colombia country manager for Buda.com, Alejandro Beltrán, revealed that Banco de Bogotá, as a government-funded pilot bank, will allow its customers to make deposits and withdrawals with Chilean cryptocurrency exchange Buda.com starting from  August.

Alejandro Beltrán said that both parties are very concerned about the service plan and hope to make every effort to improve it better. Therefore, the corresponding contract is still under discussion, stating that:

"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."

At the same time, Banco de Bogotá may also cooperate with the Mexican cryptocurrency exchange Bitso in the future.

In contrast to Colombia, China has adopted intense repression of cryptocurrency transactions, Beijing does not allow commercial banks to support cryptocurrency transactions.

As reported by Blockchain.News on July 21, China’s third-largest bank, Agricultural Bank of China, issued an announcement prohibiting bitcoin and other cryptocurrency transactions through Agricultural Bank’s services.