New York-based crypto exchange Gemini has announced that it will be expanding into Latin America through an upcoming partnership with Colombia’s largest bank, Bancolombia. The partnership will take effect Dec. 14, and will permit customers from Bancolombia to trade 4 crypto assets: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). A limited number of users will be able to buy crypto directly from their Bancolombia bank accounts through the Gemini exchange, which will provide crypto-specific infrastructure for exchange and custody of assets. It remains unclear whether the users will be able to withdraw the crypto holdings directly from …

One under the radar cryptocurrency-powered payment app that's been gaining traction across Latin America is Reserve. The platform acts as a convenient way for people to convert their local currencies, which may be undergoing high inflation levels, to the United States Dollar via the Reserve stablecoin (RSV). The network also features the Reserve Rights token (RSR), which is used for protocol governance. Since its launch in March 2021, the platform says it has seen 367,000 total signups. Meanwhile the number of weekly active users has surpassed 100,000, with most located in Argentina, Venezuela, and Colombia. In the past 30 days, …

As reported by Reuters Thursday morning, Tierra Viva ("Alive Earth"), a Colombian exporter of long-horned beetles based in Tunja, has been developing its own cryptocurrency to avoid high commission costs on international sales. According to the outlet, the Hercules, Neptunus, and elephant beetle species exported by Tierra Viva have a retail price of $300 a pair in Tokyo. The beetle species are popular among Japanese schoolchildren and collectors. Carmelo Campos, chief programmer of Tierra Viva, said the following in an interview with Reuters: It's an alternative to be able to export the beetles to Japan or any other part of …

Colombia’s government has chosen to fund a new app, board game and book to educate children and young people about investing in cryptocurrencies and the stock market. As reported by Cointelegraph Brasil, the game was proposed by Henry Jean Velásquez in response to a government appeal for innovative projects that can help foster financial literacy among young Colombians. As Velásquez has described it, the game, dubbed “B Coin: Learn to Invest in the Stock Market,” simulates the experience of retail trading as follows: “The user enters at once to invest and competes against two more players [...] and has to …

Colombia’s capital of Bogotá is funding blockchain development as part of the city’s broader investment in innovative technologies. According to a Monday announcement on the city of Bogotá’s official website, the municipal government will provide 8.8 billion Colombian pesos ($2.3 million) to local companies as part of four new programs in the city’s Innovation, Technology and Creative Industries Fund, or FITIC. The new funding includes a contribution of of 2.8 billion pesos, ($739,000) to the development of local blockchain startups through a program called “Hub Blockchain Bogotá.” The project aims to support 100 blockchain-focused companies in order to boost their …

Since March 1, 2020, the number of new Bitcoin ATMs installed worldwide is nearing 10,000. According to the latest data from Coin ATM Radar, the current number of machines stands at 16,835, a strong 57.5% increase, or 9,683 new machines, as compared with 7,152 last year. Back in Nov. 2020, Cointelegraph had reported a striking year-on-year increase of 80%. As previously, the vast majority of machines continue to be located in the United States, where 81% (13,699 out of 16,835 machines globally) are installed. Within the U.S., growth has been unparalleled, rising by 177% since March 1, 2020, or from …

Colombia’s oldest commercial banking institution, Banco de Bogotá, is reportedly exploring cryptocurrency-related services. According to a report by local news agency Portafolio, Banco de Bogotá announced Monday that it will participate in a pilot project directed by the Superintendencia Financiera de Colombia, the country's top financial regulator. The project will be run within a regulatory sandbox — dubbed la Arenera — which was approved by the Ministry of Finance and Public Credit in September 2020. Banco de Bogotá will explore the business model and potential risks associated with the management of crypto assets by allowing a select group of clients …

Devcon, one of the biggest conferences for the Ethereum community and developers, has been delayed again due to uncertainty around the coronavirus pandemic. According to a Tuesday announcement, the Ethereum Foundation decided to hold off on the conference in Bogota instead of going ahead with its previously announced August target. “We want to make sure we do this responsibly and that as many people as possible are able to make the trip from all around the world, which seems unlikely by early August,” the blog post reads. The Devcon team said that it expects to announce a new date for …

Bitcoin (BTC) is just a few thousand dollars away from its all-time high near $20,000 U.S. dollars. However, while much of the crypto industry watch Bitcoin’s price action in U.S. dollar terms, BTC has already achieved all-time high prices relative to numerous other world currencies. In an Oct. 22 tweet, Alistair Milne mentioned seven countries in which Bitcoin had already reached its all-time high relative to those countries' native fiat currencies. In the same tweet, he said Colombia and Russia would soon join the list. Bitcoin recently surpassed its all-time high against the Russian ruble earlier this month. The asset …

The COVID-19 pandemic has impacted people’s lives, the relationship between governments and citizens, and the entire world economy, and of course, it has had a major impact on the United States presidential election. Due to social isolation, a large number of American voters opted to vote by mail, which increased vote counting time, led candidate and acting President Donald Trump to judicialize the electoral process with actions in several states, and triggered intense debates about the veracity and legitimacy of the current American electoral system. Related: Blockchain voting systems could be the future, but current flaws persist The current voting …

Colombia now has the largest number of Bitcoin (BTC) ATMs in Latin America. According to CoinATMRadar, Bogota, the nation's capital, has 34 ATMs, followed by Medellin with 11, and Bucaramanga and Cali with 4 each. Other cities with one ATM at least include Armenia, Barranquilla, Cartagena, Cúcuta, La Hormiga, and Pereira. Until recently, countries such as Venezuela and Argentina were more frequently discussed as crypto hotspots in terms of regional adoption due to factors like political and economic turmoil. Colombia has taken important steps towards regulating the nation’s crypto sphere, however, with its government approving a pilot program to test …

Mauricio Toro, Colombian congressman of the Alianza Verde party, has authored a draft bill meant to regulate the crypto industry within his country. During a recent interview with Confidential Colombia, Toro outlined some of the hurdles his proposed legislation may face. Toro, who believes Colombia is lagging behind other nations in terms of crypto regulation, said that one of the main challenges is to make certain that the crypto industry is compliant with AML procedures. His hope is that this will bypass negative perceptions of the technology as it relates to crypto-crime. The congressman additionally clarified that “any scenario in …