WorldGemini to Offer Services in Colombia Under Gov't Sponsored Program

14:30  12 december  2021
14:30  12 december  2021 Source:   pressfrom.com

One of the largest crypto exchanges in the market, Gemini, has recently announced that it will start offering its services in Colombia through a special government-sponsored pilot program.

Starting in December, by partnering up with Bancolombia, which is a local bank in Colombia, Gemini will be offering local traders in the country to have access to cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

A specially selected group of users of Bancolombia will be able to start trading the above-mentioned digital assets from December 14. Detailed information about this offering was announced by the representatives of Gemini.

According to them, the partnership between Bancolombia and crypto-exchange Gemini is part of a special year-long, government-sponsored pilot program. The program aims at testing banking services for crypto platforms and evaluating the findings for the future development of the crypto trading market.

In January, the main financial regulatory agency of Colombia, the Financial Superintendency of Colombia, SFC, announced that it had received 14 applicants for the above-mentioned project, and out of these 14, it has chosen nine crypto exchanges. Among the nine are Gemini, Binance, and the Mexican exchange called Bitso.

The representatives of Gemini underlined that the partnership is not only important for Colombian traders but also helps Gemini to follow its strategic expansion goals and increase its presence in Latin America.

Bancolombia is one of the largest banks in the region and it belongs to the holding company called Grupo Bancolombia. This is a very famous company that operates throughout the region, including countries like Colombia, Panama, Guatemala, and El Salvador. According to the official report of the company published in 2020, there are over 17.8 million users who trust this company. It is known as the largest bank of Colombia by assets and is also a Tier 1 capital.

Crypto Popularity Increases in Latin America

The Crypto trading market has become very popular in Latin America over the past few years. There are numerous crypto exchanges that offer traders from the region their services. However, the market still has a lot of growth and development to do.

While the interests of individual traders have increased a lot in the crypto trading market, the regulations adopted by local jurisdictions are far from being well-developed. In the majority of the countries of Latin America, there are no direct regulations affecting the crypto trading market.

That said, the interest of retail traders is very actively increasing in the region. There are many reasons behind such increased popularity in the crypto trading market, which includes the simplicity of becoming a part of the market.

As of now, all Latin American traders have to do to become part of the cryptocurrency trading market is to find a crypto exchange that they can trust. As the number of crypto exchanges increases in the region, traders have the opportunity to make decisions between some of the best exchanges, which makes it easier for them to safely and securely trade cryptocurrencies.

Another very important reason supporting the adoption of crypto and the increasing popularity of the crypto trading market is automated crypto trading. The majority of the crypto exchanges in the region offer traders the opportunity to use third-party crypto trading robots, which can be connected to the trading accounts using the API keys. This is a very safe and secure way of connection, further increasing their popularity.

Gemini - A Leading Crypto Exchange

Gemini is one of the leading crypto exchanges available around the world. This leading crypto exchange company operates from the US and provides traders the opportunity to legally store, buy, and exchange cryptocurrencies. The crypto exchange does so by offering traders simple and secure trading products and services.

One of the biggest advantages of this crypto exchange is the high safety and security standards that it offers to its clients. The company follows very strict traditional banking rules, which makes Gemini a truly secure exchange. The crypto exchange also works very hard to ensure that every single client has access to very high-quality services. Like many others, it also allows automated crypto trading.

While the exchange does not offer its own, trading robot traders are still able to use automated trading bots for Gemini created by third-party companies. You can easily find one that fits your needs online and simply connect your trading exchange account with the automated trading robot, which will start analyzing the market on its own.

The best thing about automated trading robots is that they offer traders the opportunity to make profits from the crypto market without having to sit in front of their screens the whole day, analyzing and trading cryptocurrencies.

The partnership that Gemini decided to participate in is aimed at further supporting the crypto trading market in the whole region of Latin America. As the demand for high-quality crypto services increases in the region, there is a huge lack of high-quality crypto exchanges that are available for the local traders in the region.

The steps taken by companies like Gemini and Bancolombia are very important in the process of the development of the crypto trading market in the region and increase the opportunities for local traders.

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