KiiChain said it has entered partnerships with two major financial institutions in Colombia as it looks to expand its institutional foreign exchange and settlement business across Latin America. The counterparties are Financiera Juriscoop, a regulated financial institution with more than 40 years of history, and Banco Agrario de Colombia, the state-owned agricultural bank. KiiChain will serve as the infrastructure provider for 24/7 foreign exchange and settlement services. In its work with Juriscoop, the company plans to bring Colombian peso institutional liquidity into its FX corridor, with the two sides targeting as much as $10 million in daily volume after the integration is scaled. Co-founder and CEO Danyel Arenas said the partnerships with Juriscoop and Banco Agrario form a base for broader integration with a wider banking network. KiiChain also said it has processed more than $500 million in volume so far. The update was carried by Techub News and attributed to BeInCrypto.
KiiChain said it has partnered with two major financial institutions in Colombia to expand its institutional foreign exchange and settlement business in Latin America.
The two partners are Financiera Juriscoop, a regulated financial institution with more than 40 years of history, and Banco Agrario de Colombia, the state-owned agricultural bank.
KiiChain to provide 24/7 FX and settlement infrastructure
KiiChain will act as the infrastructure provider, offering 24/7 foreign exchange and settlement services to the two institutions.
Its partnership with Juriscoop is intended to bring Colombian peso institutional liquidity into KiiChain’s FX corridor. After the integration is expanded, the two sides are targeting daily volume of up to $10 million.
Company says processed volume has passed $500 million
Danyel Arenas, KiiChain’s co-founder and CEO, said the partnerships with Juriscoop and Banco Agrario are a foundation for broader integration with a wider banking network.
KiiChain said it has processed more than $500 million in volume to date.
The item was published by Techub News and cited BeInCrypto.
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