How Colombian PSPs Are Using Stablecoins to Solve Cross‑Border Payment Delays
Colombia’s surge in digital asset adoption is helping redefine financial infrastructure in Latin America. Stablecoins have captured a major share of the country's cryptocurrency transactions, and according to the 2024 Chainalysis "Geography of Cryptocurrency Report," they represent 66% of all crypto activity in Colombia, a figure that underscores the profound shift underway (invezz.com).
For Colombian Payment Service Providers (PSPs) and exporters, moving beyond slow, expensive, and opaque international payments is now a top priority. Platforms like Mural Pay are enabling businesses to send and receive cross-border payments more efficiently by leveraging stablecoins—cryptocurrencies pegged to fiat currencies such as the US Dollar or Colombian Peso.
Colombia’s proactive embrace of regulatory sandboxes has made it a launchpad for innovative fintech solutions in the region.
Stablecoins now account for 66% of crypto activity in Colombia, signaling mainstream adoption.
Traditional cross-border payments take days and cost up to 5%; stablecoins settle in minutes at under 0.5%.
Regulatory sandboxes and clear KYC/AML rules make Colombia a testing ground for PSP innovation.
Platforms like Mural Pay let businesses batch pay 100+ recipients and reconcile instantly.
Compliance and liquidity management remain critical as adoption scales.
Why Cross-Border Payments Delay Colombian Businesses
Traditional cross-border payment systems remain a significant bottleneck for Colombian businesses. Processing times can stretch from one to five days, and typical fees hover between 3% and 5% of the transaction amount.
Manual reconciliation and failed transactions add even more friction to the process.
For many exporters, SMEs, and international contractors, these delays and operational headaches mean lost opportunities, reduced cash flow, and a competitive disadvantage in global markets. The need for faster, more reliable payment infrastructure is clear—especially as the digital economy expands. See how batch payments can simplify reconciliation in our guide to batch stablecoin payouts for Colombian fintechs.
What Are Stablecoins—and Why Do They Matter for Colombian PSPs?
Think of stablecoins as the digital equivalent of cash that moves at internet speed. Unlike classic cryptocurrencies, which can be highly volatile, stablecoins such as USDC, USDT, COPW, and COPM are pegged to stable assets like the US Dollar or Colombian Peso.
They offer transparency, rapid settlement, and interoperability—making them ideal for Colombian Payment Service Providers (PSPs) looking to provide instant, low-cost, and globally accessible solutions. They can also help bring digital payment access to unbanked and underbanked groups in Colombia.
Unlike older cryptocurrencies, stablecoins are specifically engineered for payments and business transactions, not just speculation. For a primer on stablecoin types and fundamentals, see the different types of stablecoins and how they work.
How Colombian PSPs Integrate Stablecoins into Payment Systems
Adopting stablecoins requires a thoughtful, compliance-driven process. Here’s how PSPs in Colombia typically integrate stablecoins into their payment operations:
Onboarding and Regulatory Compliance: PSPs begin by registering their organization, completing Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, and ensuring all crypto transactions over $150 USD are reported to the UIAF.
API Integration: Next, they connect to platforms like Mural Pay using secure APIs to enable stablecoin pay-ins and payouts. Compliance checks are embedded at each stage to meet regulatory standards.
Funding and Account Management: Businesses can fund virtual accounts in USD, USDC, or COP-pegged stablecoins, with funds stored securely and available for conversion. It’s worth noting that technical integration often requires specialized blockchain expertise.
Executing Payments: PSPs execute single or batch payouts, leveraging stablecoins for near-instant settlement and real-time tracking for both sender and recipient.
Reconciliation and Reporting: Automated reconciliation tools and reporting to authorities ensure every transaction is transparent and audit-ready.
For a technical breakdown of integration best practices, see best practices for stablecoin-to-fiat API integration in Colombia.
The Regulatory Landscape: Compliance, Risks, and Best Practices
Colombia’s regulatory approach to stablecoins is both progressive and careful. While the Financial Superintendence of Colombia (SFC) and the Financial Information and Analysis Unit (UIAF) require strong KYC/AML compliance and transaction reporting, there have been no new formal statements or sandbox outcome publications in 2024 (cointelegraph.com).
"Regulatory clarity and compliance are the top challenges for batch payment adoption among Colombian fintechs," notes Catalina Gutiérrez, Director of the Fintech Colombia Association.
The regulatory sandbox has allowed responsible experimentation, but as of August 2025, the absence of updated guidance leaves some uncertainty for PSPs. This uncertainty can affect strategic planning and risk assessment for PSPs, underscoring the importance of ongoing regulatory engagement.
Businesses must remain vigilant, participating in regulatory pilots and maintaining open communication with authorities. For compliance checklists and updates, see our complete guide to Colombian cross-border payment compliance and this stablecoin compliance checklist for Colombian PSPs.
Stablecoins vs. Traditional Cross-Border Payments: Cost and Speed Comparison
When comparing payment rails, the advantages of stablecoins are clear.
Beyond speed and cost, stablecoin payments provide a transparent, auditable trail for every transaction, which simplifies compliance and dispute resolution.
Traditional Cross-Border Payments | Stablecoin Payments | |
|---|---|---|
Settlement Time | 1–5 business days | Minutes |
Transaction Fees | 3%–5% of transaction amount | Often under 0.5% |
Transparency | Low, multiple intermediaries | High, blockchain ledger |
Operational Hours | Banking days/hours | 24/7, no downtime |
Stablecoin rails also offer guaranteed delivery, eliminating lost wires and the associated manual follow-up.
A Latin American logistics company saw payment fees drop from 4% to less than 1%, with settlement times reduced from several days to under one hour after switching to stablecoin payments (muralpay.com).
This dramatic improvement in speed and cost is a compelling reason for PSPs and their clients to consider stablecoins for international transactions. For more on fee structures, explore which is cheaper for Colombian PSPs: pay-ins or pay-outs.
Stablecoin Liquidity Management for Colombian Exporters
Beyond sending and receiving funds, PSPs need robust stablecoin liquidity management strategies. Holding balances in multi-currency virtual accounts allows Colombian exporters to hedge FX risk, convert on demand, and deploy capital instantly when market conditions shift. Platforms like Mural Pay support on-the-fly swaps between USD, COP-pegged stablecoins, and local fiat rails, enabling treasury teams to optimize cash positions without waiting for traditional banking hours.
Real-World Case Studies: Stablecoin Solutions in Action
Across Latin America, PSPs and fintechs are deploying stablecoin solutions with measurable results. In 2024, Bancolombia launched Wenia, a crypto exchange featuring the COPW stablecoin, rapidly growing its user base and setting new transparency standards for audits.
Minteo’s COPM stablecoin, audited monthly by BDO, gained 100,000+ users in its first months, highlighting robust demand for transparent, local digital assets.
COPW’s integration of Chainlink’s Proof of Reserve also sets a benchmark for auditability and user trust.
Another notable example: a logistics company reduced cross-border payment fees to less than 1% and cut settlement times to under an hour. These solutions are not only efficient but are also subject to regular audits, enhancing user trust.
For more on how banks are expanding access, see how Colombian banks can offer global stablecoin accounts.
Key Challenges and Lessons Learned from Stablecoin Adoption
It’s easy to focus on the upside, but adoption isn’t without hurdles. Many PSPs face integration challenges—technical complexity, liquidity risk, and FX volatility are ongoing concerns. Fluctuations in the exchange rate between USD-pegged stablecoins and Colombian pesos can affect final payment amounts.
Digital literacy and user education remain significant barriers, particularly for small businesses and freelancers new to digital assets.
"The regulatory sandbox has enabled responsible experimentation, but businesses should not assume legal certainty," warns Nicolás Rodríguez of Baker McKenzie. For more on integration challenges, see how Colombian fintechs can integrate stablecoin payments.
The Future of Cross-Border Payments for Colombian PSPs
Colombia is positioned as a regional leader in digital asset innovation, with over 70% of local fintechs planning to offer stablecoin payment options by 2025 (muralpay.com).
As demand from SMEs and exporters grows, the trend toward cross-border payments powered by stablecoins is only accelerating.
“Colombia is making significant progress in digital asset regulation, and stablecoins are being closely studied as part of upcoming fintech laws,” says Juan Pablo Córdoba, President of the Colombian Stock Exchange.
Colombia’s collaboration with global institutions is expected to further strengthen digital asset regulations and industry standards.
Ready to explore how Mural Pay can streamline your stablecoin payouts? Contact our team for a quick walkthrough or spin up a sandbox account in minutes.
FAQ
Are stablecoin payments legal for commercial use in Colombia?
Yes. Stablecoin transactions are permitted when PSPs comply with KYC/AML rules, report qualifying transfers to the UIAF, and participate in relevant regulatory pilots.
What currencies can Colombian PSPs settle with stablecoins?
PSPs can settle in USD-pegged options like USDC and USDT, as well as COP-pegged assets such as COPW and COPM. Conversions to local fiat (COP) are available through licensed off-ramps.
How does Mural Pay handle stablecoin liquidity and FX conversion?
Mural Pay maintains on-chain and bank liquidity pools, allowing real-time swaps between stablecoins and 40+ fiat currencies so businesses can lock in rates instantly.
Does Mural's payments API support batch payouts?
Absolutely. Finance teams can upload a CSV or call the batch endpoint to pay 100+ recipients in one request, with real-time status updates for each transfer.
How fast can funds reach a recipient’s bank account?
Stablecoin payouts typically settle on-chain in minutes, and local bank deposits arrive shortly after, depending on the recipient’s banking rails.
References
Chainalysis. (2024). Geography of Cryptocurrency Report 2024. invezz.com/news/2024/12/09/colombia-ranks-4th-in-latam-for-bitcoin-revenues-earning-6-79-billion-in-2024
Cointelegraph. (2024). Bancolombia group launches Wenia crypto exchange and COPW stablecoin. cointelegraph.com/news/bancolombia-group-wenia-crypto-exchange-copw-stablecoin
Mural Pay. (2024). Step-by-step: Converting USD and stablecoins to COP in Colombia. muralpay.com/blog/step-by-step-converting-usd-and-stablecoins-to-cop-in-colombia
Mural Pay. (2024). Colombian cross-border payment compliance: A complete guide. muralpay.com/blog/colombian-cross-border-payment-compliance-a-complete-guide
Mural Pay. (2024). How Colombian banks can offer global stablecoin accounts (GSAs). muralpay.com/blog/how-colombian-banks-can-offer-global-stablecoin-accounts-gsas
Mural Pay. (2024). The different types of stablecoins and how they work. muralpay.com/blog/the-different-types-of-stablecoins-and-how-they-work
