BANKING · PERU
Key Facts
- —The country Peru has no specific crypto law, so BCP’s bitcoin and USDC pilot runs in a sandbox authorised by the banking regulator, the SBS.
- —Why it matters Dollar-linked tokens such as USDC and tether could open a new channel for dollar exchange and for money sent to Peru from abroad.
- —Why now On Friday 16 October a senior payments consultant said many Peruvian banks can start turning soles into stablecoins to earn exchange fees.
- —What happened No bank has announced a stablecoin exchange; the pilot in the coverage is CriptoCocos at BCP, launched in October 2025 for at most 3,000 clients.
- —The numbers The pilot caps each trade at US$999 and each client at US$3,000 in purchases, with a 1% fee on every buy or sell.
- —What it means for you Readers sending money to Peru see no change today, and a bank launch would still need clear fees and regulatory approval.
- —Still open Which bank moves first, under what licence, and whether the regulator backs a wider rollout of the BCP pilot.
- —Power Index Peru ranks 5th of 14 in The Rio Times Latin America Power Index, with 54.7 points (October 2026 edition).
Peru banks could earn fees by swapping soles into dollar-linked stablecoins, a Boston Consulting Group (BCG) executive said in remarks published by Gestión on Friday 16 October. No Peruvian bank has announced such a service, so the newspaper’s headline describes a possibility, not a launch.
For US readers the story is about the dollar, because USDC and tether are pegged to it and Infomercado describes USDC’s issuer, Circle, as a US-regulated company. A bank that routes soles through such tokens would add a dollar channel to Peru’s exchange and remittance flows.
What Peru Banks Are Weighing on Stablecoin FX
Gonzalo Troncoso, a managing director and partner at BCG who leads its payments and fintech practice in Latin America, named digital assets as one of three trends. The other two are artificial intelligence and the use of AI agents inside banks.
On Peru, he said many banks can begin to think about converting soles into stablecoins such as tether, a token linked to the US dollar. That, he said, would generate exchange commissions and then support the handling of remittances.
He presented this as an option for banks to consider, and he named no bank that plans it. Gestión’s own summary says banks “will evaluate” the idea, which is weaker than the headline’s “will launch”.
Troncoso also pointed to Nubank, which recently announced an international multi-currency account for fee-free transfers between more than 35 countries. He said the market still has to decide how to adopt it, but expected established banks to try to move in a similar direction.
BCG says artificial intelligence has lifted revenue at payment companies by 5% to 10%. It estimates that payment firms adopting it could raise profits by 20% to 30% in the short term.
What the BCP CriptoCocos Pilot Shows
Banco de Crédito del Perú (BCP), which calls itself Peru’s largest bank, launched CriptoCocos in October 2025 with the custody firm BitGo. It offers bitcoin and USDC in a closed circuit, with no transfers to outside platforms.
The SBS, the banking, insurance and pension regulator, authorised the pilot, and Infomercado reported that it sits inside the SBS regulatory sandbox. The same outlet reported that up to 3,000 clients may trade.
BCP’s own page sets a limit of US$999 per trade and US$3,000 in cumulative purchases per client during the pilot. It charges a 1% commission on each purchase or sale.
In December 2025 BCP executive Jorge Jenkins told Gestión that 2,000 people had registered but only a minimal number had started trading, since applicants first take a crypto knowledge test. Purchases were small, averaging about US$250, with 70% in bitcoin and the rest in USDC.
The pilot trades bitcoin and USDC, and the coverage reviewed does not describe it as a foreign-exchange or remittance service. Jenkins said BCP needs a favourable SBS opinion, which he estimated for October 2026, before deciding at the end of 2026 whether to open it to the public.
Live Market IntelligenceCrypto — Live Market Board
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Crypto — Live Market Board
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| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| BTC | 63,384 | -0.26% | -47.24% | 63,552 | 64,346 | 63,305 | 22,774,743,040 |
| ETH | 1,886 | +0.26% | -58.90% | 1,881 | 1,920 | 1,879 | 7,916,475,392 |
| SOL | 75.89 | -0.40% | -60.44% | 76.20 | 76.99 | 75.39 | 1,473,821,056 |
| XRP | 1.01 | -1.15% | -69.07% | 1.02 | 1.02 | 1.01 | 1,144,044,416 |
| BNB | 609.60 | -1.12% | -26.81% | 616.50 | 619.30 | 609.23 | 1,266,706,432 |
| ADA | 0.18 | -1.98% | -78.22% | 0.19 | 0.19 | 0.18 | 238,085,632 |
| DOGE | 0.07 | -1.56% | -70.00% | 0.07 | 0.07 | 0.07 | 553,256,192 |
| AVAX | 6.38 | +1.04% | -74.11% | 6.32 | 6.42 | 6.21 | 248,470,560 |
| LINK | 8.77 | -0.06% | -62.73% | 8.77 | 8.87 | 8.68 | 317,054,880 |
| DOT | 0.78 | -0.75% | -81.11% | 0.79 | 0.80 | 0.78 | 43,490,492 |
| LTC | 45.08 | -0.85% | -65.45% | 45.47 | 45.59 | 44.98 | 143,727,712 |
| BCH | 213.85 | +0.10% | -65.44% | 213.64 | 215.69 | 212.54 | 137,956,688 |
| TRX | 0.34 | +0.28% | -4.73% | 0.33 | 0.34 | 0.33 | 436,576,064 |
| XLM | 0.16 | -1.33% | -64.46% | 0.16 | 0.16 | 0.16 | 89,559,864 |
| HBAR | 0.07 | -0.53% | -74.67% | 0.07 | 0.07 | 0.07 | 22,546,186 |
| NEAR | 1.65 | +2.42% | -40.55% | 1.62 | 1.68 | 1.61 | 187,591,264 |
| ATOM | 1.40 | -2.36% | -70.15% | 1.44 | 1.44 | 1.40 | 18,626,964 |
| AAVE | 89.06 | +0.93% | -72.33% | 88.24 | 90.20 | 88.19 | 129,099,704 |
Why Stablecoins Are Gaining Ground in Peru
Forbes Perú reported in January that Peru has no specific crypto law, so BCP’s pilot runs in a sandbox. The main rule is an SBS anti-money-laundering resolution that requires virtual asset service providers to register with the financial intelligence unit, and it does not restrict trading or custody.
The same report cited a blockchain-analytics estimate of 1.28 million Peruvian crypto users, about 3.7% of the population, for the year to June 2025. At the exchange Buda.com stablecoins rose from 31% of traded volume in October 2024 to more than 50% in October 2025.
A Visa survey of more than 1,000 Peruvian consumers, covered by Gestión on 2 October, found that half of remittance operations are now digital. It also found that 50% of Peruvians know stablecoins and that 77% would use them if fraud protections were strong.
José Arango of the remittance firm Jet Perú told Gestión that stablecoin use today is mostly between companies, because few local products accept them. A neighbour’s step is covered in Brazil Clears Visa, Mastercard Stablecoin.
Regional background is in Stablecoins Are Digital Dollars. Latin America Uses Them More Than Any Other Region.
What It Means for You
If you send money to family in Peru from the United States, nothing changes today, because no bank has announced a stablecoin transfer service. If one launches, compare its fees, its exchange spread and its regulatory status before using it.
For investors, the signal is competition for dollar flows, not a proven bank product. The only evidence so far is a capped pilot whose average trade was about US$250 in December 2025.
The wider setting is covered in Who Runs Peru’s Economy, the Key Players in 2026. Peru banks operate under SBS supervision, so any new service would need the regulator’s consent.
What Is Not Known
No Peruvian bank has named a date, a product or a licence for a stablecoin exchange, and Troncoso did not name any bank. The SBS had not commented on the idea in the coverage reviewed.
Whether the SBS has given its opinion on CriptoCocos, which Jenkins expected around October 2026, is not stated in the coverage reviewed. The text of the Gestión article names only the BCP pilot as a local example.
Forbes Perú gave no date for the SBS anti-money-laundering rule it described, and the SBS website could not be read by our tools. The pilot’s current user numbers after December 2025 are also unknown.
Frequently Asked Questions
Are Peru banks launching a crypto exchange?
No bank has announced one. A BCG executive said on 16 October that many banks can start thinking about converting soles into stablecoins to earn exchange fees.
What is CriptoCocos?
It is a pilot at Banco de Crédito del Perú that lets approved clients buy and sell bitcoin and USDC. The SBS authorised it, and BCP launched it in October 2025.
What limits does the BCP pilot set?
Each trade is capped at US$999, and each client can buy up to US$3,000 in total during the pilot. BCP charges a 1% commission on every purchase or sale.
Is crypto legal in Peru?
Peru has no specific crypto law, according to Forbes Perú. An SBS anti-money-laundering rule requires virtual asset service providers to register with the financial intelligence unit.
What are stablecoins such as USDC and tether?
They are digital tokens whose value is linked to the US dollar. USDC is issued by Circle, which Infomercado describes as a US-regulated company.
Will stablecoins change remittances to Peru?
Not yet, because no bank has launched such a service. A Visa survey found that 77% of Peruvians would use stablecoins if fraud protections were strong.
Sources: Gestión, 16 October 2026; Gestión, 29 December 2025; Gestión, 2 October 2026; Forbes Perú, 5 January 2026; Infomercado, 7 October 2025; BCP CriptoCocos page; BCP launch release, October 2025.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief