BCP crypto platform launch marks Peru’s first regulated entry
BCP crypto platform launch marks a regulated milestone in Peru
Peru’s largest bank, Banco de Crédito del Perú (BCP), has introduced a pilot crypto platform authorized by the national regulator. The BCP crypto platform launch allows selected clients to buy and hold Bitcoin and USDC under BitGo’s custody, marking a historic step in the country’s financial system.
According to Thursday’s statement, eligible clients must register, prove a verified banking record with BCP, and pass a risk assessment before gaining access. Once approved, users can buy and sell Bitcoin and USDC through a closed-loop platform that prevents transfers to external wallets. This setup ensures full traceability and compliance with anti–money laundering and counter–terrorism financing regulations.
Founded in 1889, BCP is Peru’s oldest and largest financial institution, managing around $52 billion in assets as of December 2024. BitGo, established in 2013 in the United States, provides secure custody and wallet services for institutional crypto clients worldwide.
Peru’s crypto regulation enters new territory
The launch of the BCP crypto platform signals Peru’s first regulated entry into the digital asset market. Although Peru allows the use of cryptocurrencies, the sector still operates within a fragmented legal framework. The regulator’s approval of BCP’s pilot marks a significant move toward clearer crypto oversight.
Other fintech firms have also played key roles in expanding Peru’s crypto scene. Argentina-based Lemon Cash has been active in Peru since August 2024 through a licensed partner authorized to issue electronic money in local currency. Meanwhile, its exchange operates under an El Salvador license, offering trading and custody services.
Since its debut, Lemon Cash has attracted over 1 million users and issued 150,000 Visa cards. The firm recently closed a $20 million Series B funding round, backed by US investors F-Prime and ParaFi, to expand across Latin America.
Growing institutional interest in Peru’s digital assets
Lemon Cash’s COO, Federico Biskupovich, said that broader crypto adoption in Peru depends on more competition and improved user experiences. He also noted the importance of building public trust to sustain long-term growth.
Despite the country’s slow regulatory progress, Peru’s government and central bank have shown increasing openness to digital innovation. In 2024, the Central Reserve Bank of Peru (BCRP) launched a digital soles pilot with Bitel to enhance financial inclusion in rural areas.
More recently, in September 2025, Peru announced a blockchain-based digital voting pilot in partnership with Stamping.io. This system will be tested before the April 2026 national elections, signaling the government’s intent to integrate blockchain into public processes.
