How Colombian Banks Can Offer Global Stablecoin Accounts (GSAs) in 2025

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Jun 1, 2025

Global stablecoin accounts (GSAs) are rapidly becoming a transformative force for Colombian banks and their clients. Digital asset adoption is accelerating across Latin America, and stablecoin accounts are now at the heart of cross-border payments for many businesses and individuals. In 2024, over 40% of Latin America’s crypto transaction volume was tied to stablecoins, highlighting their essential role in remittances and trade (PanewsLab, 2024).

Bancolombia’s Wenia platform, which launched a peso-pegged stablecoin, is a leading example of how GSAs are moving from concept to reality in the Colombian market.

Understanding the benefits, compliance requirements, and technical challenges is crucial for banks evaluating this opportunity. This guide walks through the steps for launching GSAs, regulatory considerations, and real-world lessons from Colombia’s most innovative financial institutions.

What Are Global Stablecoin Accounts (GSAs)—and Why Are They Gaining Traction in Colombia?

A global stablecoin account (GSA) is a bank account that enables clients to hold, transact, and manage digital assets—like USDC or peso-pegged tokens—alongside traditional banking features. Unlike foreign currency accounts, GSAs use stablecoins to deliver faster, more transparent, and cost-effective international transfers.

Colombia’s $10.4 billion annual remittance market is a key driver for stablecoin interest. GSAs are particularly attractive as a hedge against currency volatility, and they give exporters and freelancers a straightforward way to receive global payments. According to a 2024 industry analysis, stablecoin adoption in Latin America surged by 22% over the previous year, outpacing most other regions (CoinLaw, 2025).

Globally, the number of active stablecoin wallets jumped from 19.6 million to over 30 million within a year, showcasing widespread momentum for these technologies.

Regulatory sandboxes, such as “La Arenera,” are helping banks and fintechs pilot these innovations with confidence.

For a closer look at stablecoin safety and risk factors, see the article Are Stablecoins Safe? What's the Safest Stablecoin.

Regulatory Framework for Stablecoin Accounts in Colombia: What Banks Need to Know

It’s a question nearly every banking executive faces: How can Colombian banks launch GSAs and stay compliant as the rules change?

Colombia’s Decree 119 of 2017 and the updated Central Bank FX rules allow only licensed financial institutions to offer foreign currency accounts. Banks must also follow strict AML/KYC protocols and report all large or suspicious transactions to the UIAF.

Colombian regulators now formally recognize Virtual Asset Service Providers (VASPs), aligning local standards with FATF recommendations. The Superintendencia Financiera de Colombia (SFC) has permitted banks and fintechs to pilot stablecoin solutions within the La Arenera regulatory sandbox. In a 2024 statement, the SFC emphasized:

“Financial institutions must balance innovation with rigorous compliance and reporting, as the regulatory environment is evolving rapidly and missteps can be costly.” (Mural Pay, 2024)

Brazil’s advanced frameworks in digital assets serve as a regional reference, pushing Colombia to develop guidelines that balance innovation with consumer protection.

Banks can look to global standards for further guidance. The EU’s MiCA regulation, effective from December 2024, and FATF’s international guidelines are both influential in shaping Colombia’s local requirements.

Dive deeper with our Colombian compliance guide.

How Colombian Banks Can Integrate GSAs: Technical and Operational Requirements

Here’s how Colombian banks can move from idea to live stablecoin accounts:

Leverage Regulatory Sandboxes: Start with pilot projects in environments like La Arenera to test GSAs under regulatory oversight.
Integrate Secure Blockchain Infrastructure: Adopt scalable blockchain platforms and conduct regular smart contract audits for strong technical foundations.
Connect via APIs: Build API connections between core banking systems and stablecoin platforms to streamline onboarding and support.
Implement Multi-Signature Wallets: Add security by requiring multiple approvals for large or sensitive transactions.
Enable Real-Time Compliance Monitoring: Use automated tools for KYC/AML and regulatory reporting.
Adopt Industry Best Practices: Bancolombia’s Wenia, for example, uses Chainlink Proof of Reserve to provide real-time transparency for its peso-pegged stablecoin reserves.

Banks should also invest in educational campaigns and responsive customer support to help GSAs gain trust and traction among end users.

For an in-depth look at Mural Pay’s stablecoin integration benefits, visit Mural Pay’s Benefits for Financial Institutions in Colombia Explained.

Market Leaders: How Bancolombia and Others Are Pioneering Stablecoin Accounts

Several Colombian market leaders have already made notable progress integrating stablecoin solutions:

Bancolombia’s Wenia and COPW: In 2024, Bancolombia launched Wenia, a crypto exchange with the COPW stablecoin, aiming to onboard 60,000 users in its first year (Cointelegraph, 2024). The platform’s integration with Chainlink’s Proof of Reserve has set a new standard for security and transparency.
Minteo’s COPM: Minteo’s COPM stablecoin, audited monthly by BDO, saw over 100,000 users adopt the product within months of launch, reflecting robust market demand. Monthly audits by BDO and robust transparency standards distinguish Minteo from less regulated projects.
Qash: This fintech introduced a self-custodial wallet linked to USDC, giving Colombians access to dollar banking and global spending via a Visa card.
Num Finance’s nCOP: Targeting Colombia’s remittance market, nCOP offers blockchain-based, cost-effective transfers for local users.

For more on batch stablecoin payouts in Colombia, see Batch Stablecoin Payouts: How Colombian Fintechs Can Pay 100+ Contractors in Minutes.

Benefits and Challenges of Offering GSAs for Colombian Banks

Colombian banks are increasingly turning to stablecoin accounts to simplify cross-border payments and lower transaction costs for customers. The advantages are clear:

Speed: Settlement times for USD transactions have dropped by as much as 95% in pilots, reducing processing from days to under an hour (Mural Pay, 2024).
Cost Efficiency: Transaction fees for stablecoin payments are typically between $0.10 and $2—far less than the $30–$50 charged for SWIFT wires.
Transparency: Blockchain-based GSAs offer real-time, auditable transactions, building customer trust.

These capabilities align with global compliance standards and provide a clear audit trail for regulators.

However, regulatory uncertainty, the need for strong compliance systems, and technical integration hurdles can slow adoption.

Banks must also be vigilant about maintaining sufficient reserves for issued stablecoins, as insufficient backing can result in regulatory penalties and reputational loss.

Valeria Gutiérrez, Bitso’s Colombia Country Manager, notes:

“We see growing demand among Colombian SMEs for faster, dollarized payments—stablecoins fill that gap.” (Mural Pay, 2024)

For a deeper look at stablecoin advantages and disadvantages, see Benefits of Stablecoins: Advantages and Disadvantages Explained.

Comparison: Traditional Cross-Border Accounts vs. GSAs

When it comes to cross-border business, the difference between legacy accounts and GSAs is striking:

	Traditional FX/Wire Accounts	Global Stablecoin Accounts (GSAs)
Settlement Time	1–5 business days	Minutes to under an hour
Transaction Fees	$30–$50 per transfer	$0.10–$2 per transaction
Transparency	Limited, manual reconciliation	Real-time, blockchain-based
Compliance	Manual, paper-heavy	Automated, digital-first

Manual reconciliation—a major pain point in traditional banking—is virtually eliminated with GSAs.

According to a 2025 industry survey, nearly 49% of financial institutions are now using stablecoins for payments, reflecting a major shift in priorities for banks worldwide (Fireblocks, 2025).

For practical guidance on converting COP to USDC, check Step-by-Step: Converting COP to USDC for Cross-Border Payroll.

Key Takeaways and Next Steps for Colombian Banks

The path forward for Colombian banks is clear: to remain competitive and serve a growing digital-first client base, integrating global stablecoin accounts (GSAs) is no longer optional. Regulatory frameworks are advancing, technical solutions are proven, and real-world adoption is rising.

As a platform powering payments and compliance infrastructure across 170+ countries, Mural Pay is positioned to help Colombian banks compete globally.

For institutions seeking a proven partner, Mural Pay’s stablecoin solutions combine compliance, speed, and reliability—making GSAs a viable, future-ready offering for the Colombian market.