Peru’s Largest Bank Tests Bitcoin Trading, Eyes New Payment Solutions

On April 29, 2025, multiple Peruvian financial sources confirmed that Banco de Crédito del Perú (BCP) received regulatory approval to run a pilot program for buying and selling Bitcoin.

This move marks the first time a major Peruvian bank integrates cryptocurrency transactions into its official channels. BCP submitted its application to the Superintendencia de Banca, Seguros y AFP (SBS) in September 2024.

After months of review, the SBS granted approval in early April 2025. The pilot allows 5,000 selected users to buy and sell Bitcoin directly through BCP’s digital platforms.

A specialized external provider manages the custody of digital assets, ensuring that the bank itself does not directly hold users’ private keys. The pilot operates within a regulatory sandbox, a controlled environment established by the SBS.

This setup encourages financial innovation while maintaining oversight. This approach lets BCP test the integration of digital assets without exposing the broader financial system to unmitigated risks.

BCP’s project aims to explore several commercial avenues. The bank is considering a payment card that enables customers to pay in local currency at merchants, while debiting Bitcoin from their accounts.

BCP’s Bitcoin Card Pilot Reflects Cautious Innovation

This model mirrors approaches seen in other countries, where such cards convert Bitcoin to local currency at the point of sale. The bank also plans to act as a Bitcoin exchange, profiting from the spread between buy and sell prices, much like it does with foreign currencies.

The pilot’s timing coincides with heightened volatility in the cryptocurrency market. Earlier this month, Bitcoin’s value dropped to $75,000 after new U.S. tariffs affected global risk assets.

However, the price quickly rebounded to $95,145.70, highlighting both the risks and opportunities of integrating digital assets into traditional banking. BCP’s move reflects a broader trend in Latin America, where established financial institutions are cautiously testing the waters of digital assets.

The regulatory sandbox offers a buffer against the sector’s volatility, allowing for careful monitoring and gradual adoption. This pilot does not signal an end to Peru’s national currency, the sol.

Instead, it marks a pragmatic step by BCP to diversify its offerings and remain competitive as digital assets gain traction. The story behind the figures is clear: Peru’s largest bank is betting on innovation, but doing so with caution and oversight.