One of the most notable aspects of this system is its user-friendliness: recipients don’t need a crypto wallet or an IBAN to receive funds. Transactions are settled in the background using blockchain, while the end-user enjoys a seamless experience.

As SukuPay CEO Yonathan Lapchik explains, making blockchain “invisible” to users is key to global adoption. “People shouldn’t need to understand the tech to benefit from it. The real challenge is to build the rails, not force everyone to learn how the engine works.”

Banco Industrial, founded in 1968, operates more than 1,600 service points across Guatemala. As of 2023, the bank had over 150 million Guatemalan quetzals in assets—approximately $20 million USD. The integration with SukuPay marks one of the first real blockchain implementations within a major Latin American retail bank.

Expanding Regional Influence

Banco Industrial’s impact extends beyond Guatemala, with operations in Honduras, Panama, and El Salvador. In these countries as well, the bank plays a major role in processing remittances, a vital income stream for millions of families.

In fact, remittances are a lifeline in Latin America. In 2024, the Inter-American Development Bank projected that Latin America and the Caribbean would receive around $161 billion in remittances. These monthly payments typically range from $131 to $648, accounting for 6% to 23% of the sender’s income.

Lapchik criticizes the traditional remittance system for being costly and inefficient:
“Guatemala alone receives $21 billion in remittances annually, but families lose 6% to 10% of that to fees and delays. When people are sending $300 or $400 per month, they can’t afford to wait days or lose money just to get it delivered.”

He argues that blockchain, when applied effectively, can eliminate these barriers, delivering money faster and at lower cost, through apps that users are already familiar with.

Stablecoins Fuel Adoption in Latin America

While Latin America is the second-fastest growing region for crypto adoption globally, Guatemala still lags behind countries like Argentina, Brazil, Mexico, Venezuela, and Colombia. According to recent research, stablecoins are the key enabler in this growth trend.

Lapchik notes that while most users don’t consciously seek out stablecoins, they end up using them because they offer speed, reliability, and low cost for cross-border payments.
“People don’t wake up thinking, ‘I need a stablecoin,’ but it turns out to be the best way to make international transfers work smoothly.”

By combining stablecoins with banking apps that people already trust, this integration could represent a turning point for blockchain adoption across underserved regions.

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Treasury Strategy Formalized 

Méliuz reported that it purchased 274.52 BTC at an average cost of $103,604. With this move, the company’s total holdings reached 320.25 BTC. The initial purchase of 45.73 BTC in March is also included in this total. The company’s BTC assets are currently valued at over $33 million. Brazil is among the leading countries in Latin America for cryptocurrency adoption. Méliuz’s step further matures the country’s cryptocurrency ecosystem. Operating in payment systems and digital finance, the company sets an example for other firms by holding Bitcoin as a treasury asset. 

Méliuz clearly articulated its mission within the scope of this strategic transformation: 

“The core mission of a Bitcoin Treasury Company is to accumulate BTC in a value-added manner for shareholders by utilizing cash generation, corporate structures, and capital market mechanisms, while increasing exposure to the asset over time.” 

Bitcoin Positioned as a Value-Enhancing Tool 

While traditional companies typically allocate a portion of their cash reserves to Bitcoin to hedge against inflation, Méliuz adopted a different strategy. The company views BTC not only as a hedge but as a direct source of value creation: 

“Instead of allocating a portion of its cash to BTC as a hedge against inflation or currency devaluation, the company has repositioned its strategy to maximize the amount of Bitcoin per share.” 

Chairman of the Board Israel Salmen commented on the development: 

“This is a historic day for our company. We are now the first Bitcoin Treasury Company listed in Brazil.” 

Historic day! Our shareholders have approved, by a wide majority, the transformation of Méliuz into the first Bitcoin Treasury Company listed in Brazil.

And today, we took another step forward:
Acquired 274.52 BTC for US$ 28.4M
Average price: US$ 103,604
Achieving a BTC Yield of… pic.twitter.com/y12JlKwW6N

— Israel Salmen (@IsraelSalmen) May 15, 2025

Méliuz CEO Israel Salmen described the decision as “a historic day.” This step is not just a measure against inflation but also aims to increase the amount of Bitcoin per share. 

Additionally, Bahrain-based Al Abraaj Restaurants Group became the first publicly traded company in the Middle East to adopt BTC as a treasury asset. The company initially purchased 5 BTC and announced plans to increase this amount as part of a long-term digital transformation strategy. 

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Avalanche Foundation Collaborates with Rain for Card Development

The Avalanche Foundation, the non-profit supporting the development of the Avalanche blockchain, announced that its Avalanche Card is now live and ready for use. Developed in collaboration with Rain, a blockchain-based card issuing platform, the card allows users to spend AVAX tokens, wrapped AVAX, and the stablecoins USDT and USDC at any Visa-accepting store or online.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

This launch marks a significant step in the integration of cryptocurrency with traditional financial technologies. While other teams have also released credit cards tied to cryptocurrency holdings, the Avalanche Card highlights the growing fusion of crypto and traditional finance.

User Sign-Ups Accelerate in Multiple Regions

In October, the Avalanche Foundation revealed plans to target user sign-ups in Latin America and the Caribbean. In Tuesday’s statement, the team reported that sign-ups had accelerated in these regions, as well as in Southeast Asia and Africa.

According to the card’s website, it will be linked to users’ “new self-custody wallet and unique address per asset.”

The Avalanche team added, “In a move to double down on mainstream adoption of decentralized finance (DeFi), Avalanche remains committed to powering accessible inroads to blockchain for every type of user.”

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