Guatemala’s largest bank, Banco Industrial, has partnered with SukuPay to integrate blockchain-based money transfer functionality into its mobile banking app, Zigi. Now, Guatemalans can receive money from the U.S. instantly with a flat fee of just $0.99, without needing a crypto wallet or international bank code (IBAN).
Remittances play a crucial role in Guatemala’s economy, totaling up to $21 billion annually. However, many families currently lose between 6–10% in fees and face long waiting times. SukuPay CEO Yonathan Lapchik stated that crypto can solve this issue by lowering costs and increasing speed—especially when integrated into familiar banking apps.
Latin America is currently the second-fastest-growing crypto market in the world, with stablecoins being a major driving force. While Guatemala still lags behind countries like Brazil and Mexico, this partnership marks a significant step forward in applying blockchain technology to everyday finance.
