Blockchain, But Make It Invisible
Guatemala’s biggest bank, Banco Industrial, has officially integrated SukuPay—a crypto infrastructure platform—into its Zigi mobile banking app, enabling instant cross-border remittances from the U.S. for just $0.99. But here’s the kicker: users won’t even know they’re using crypto.
Users don’t need a crypto wallet, IBAN, or any blockchain knowledge. The system works entirely in the background, leveraging blockchain rails to remove fees and friction without changing user habits.
A Lifeline for Millions of Guatemalans
Remittances are critical for Latin America—especially Guatemala. The country receives over $21 billion annually in remittance flows, much of which is lost to delays and fees of up to 10%.
Now, for under a dollar, families in Guatemala can receive money from loved ones in seconds using a familiar banking app.
Why This Move Matters
Banco Industrial, founded in 1968, is Guatemala’s financial juggernaut with over 1,600 locations and $20M in assets as of 2023. It’s also active in Panama, Honduras, and El Salvador—countries that rely heavily on remittance income. By embedding SukuPay directly into Zigi, the bank becomes one of the first Latin American institutions to deploy crypto-native protocols in a real-world banking environment. It’s a sign that crypto is going mainstream—quietly
Stablecoins Powering the Revolution
While users may not see it, stablecoins—crypto tokens pegged to fiat currencies—are the real engine here. They’re faster and cheaper to move than dollars via traditional rails.
Lapchik stressed that users don’t care about stablecoins themselves, only what they enable:
Latin America’s Crypto Surge
According to Chainalysis, Latin America is the second-fastest growing region for crypto adoption, driven by demand for stablecoins and financial accessibility. While Guatemala trails behind countries like Argentina, Brazil, and Venezuela, this move could leapfrog the country into the blockchain future.
