This website collects cookies to deliver better user experience, you agree to the Privacy Policy.
Accept
Sign In
The Texas Reporter
  • Home
  • Trending
  • Texas
  • World
  • Politics
  • Opinion
  • Business
    • Business
    • Economy
    • Real Estate
  • Crypto & NFTs
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Books
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: Colombia’s Largest Financial institution Faucets Chainlink Proof of Reserves For COPW Stablecoin – The Defiant
Share
The Texas ReporterThe Texas Reporter
Font ResizerAa
Search
  • Home
  • Trending
  • Texas
  • World
  • Politics
  • Opinion
  • Business
    • Business
    • Economy
    • Real Estate
  • Crypto & NFTs
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Books
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© The Texas Reporter. All Rights Reserved.
NFTs

Colombia’s Largest Financial institution Faucets Chainlink Proof of Reserves For COPW Stablecoin – The Defiant

Editorial Board
Editorial Board Published July 25, 2024
Share
SHARE

Bancolombia Group entered the web3 sector in Could after 10 years of analysis.

The digital asset subsidiary of Bancolombia Group, the most important financial institution in Colombia, has tapped Chainlink to bolster the transparency of its Colombian Peso-backed stablecoin.

On July 25, Wenia introduced it built-in Chainlink’s Proof of Reserve (PoR) protocol for its COPW stablecoin. The transfer permits anybody to entry Chainlink’s on-chain information from the Wenia platform to verify that COPW is totally backed by Colombian Pesos.

“Through this collaboration, COPW users on the Wenia platform gain access to Chainlink’s secure and reliable on-chain PoR data, enhancing visibility into the reserves backing the stablecoin,” mentioned Pablo Arboleda, CEO of Wenia. “On-chain Proof of Reserve data is a critical component to digital asset adoption, serving as a stepping stone toward increasing consumer confidence in using stablecoins and other tokenized assets.”

Menia can also be anticipated to combine Chainlink’s Worth Feed and Cross-Chain Interoperability Protocol merchandise for COPW within the close to future.

Chainlink (LINK)’s worth is down 6.54% previously 24 hours amid a broader digital asset pullback, in line with CoinGecko.

Bancolombia’s web3 entrance

Bancolombia Group launched Wenia and COPW in early Could. Wenia is a Bermuda-based firm that gives buying and selling, transfers, and custody for Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC), and USD Coin (USDC), along with COPW mints and redemptions.

Whereas Menia and COPW are at present solely out there in Colombia, Wenia plans to broaden the COPW into new markets and onto “web3 platforms” shifting ahead. Wenia hopes to onboard 60,000 customers in its first 12 months of operation.

Juan Carlos Mora, the president of Bancolombia, informed Forbes that Wenia’s launch adopted a decade of analysis into the digital asset trade.

Bancolombia’s entrance into the web3 sector follows the Colombian market having fun with important progress over the previous 12 months.

In keeping with October 2023 analysis from Chainanalysis, Colombian customers execute roughly $200 million value of cryptocurrency. The exercise ranks Colombia thirty second by digital asset adoption worldwide, and fourth amongst Latin American nations behind Argentina, Brazil, and Mexico.

In keeping with Cristóbal Pereira, one of many important organizers behind the ETHChile convention, possession in South America grew 116% to 55 million from 25 million for the reason that begin of 2023.

Associated: Exterior Devcon Colombians Search For Pragmatic Methods to Use Crypto

TAGGED:BankChainlinkColombiasCOPWDefiantLargestProofReservesStablecointaps
Share This Article
Twitter Email Copy Link Print
Previous Article Jennifer Aniston Trashes JD Vance, Can’t Consider His View on Ladies
Next Article 18 Of The Finest Braids For Males in 2024 | FashionBeans

Editor's Pick

Sizzling Lady Summer time Begins within the Bathe—Right here’s Learn how to Prep Your Pores and skin

Sizzling Lady Summer time Begins within the Bathe—Right here’s Learn how to Prep Your Pores and skin

We might obtain a portion of gross sales if you buy a product by a hyperlink on this article. Most…

By Editorial Board 8 Min Read
Alpine’s Sizzling Hatch EV Has a Constructed-In, ‘Gran Turismo’ Model Driving Teacher

One other win over its Renault 5 sibling is a multi-link rear…

3 Min Read
Louis Vuitton Is Dropping a New Perfume As a result of It’s Sizzling | FashionBeans

We independently consider all beneficial services and products. Any services or products…

2 Min Read

Latest

“A Family’s Fight to Reclaim Their Legacy”

“A Family’s Fight to Reclaim Their Legacy”

Introduction: For generations, the Wright family has worked and lived…

July 9, 2025

AR Global Inc CEO Kason Roberts Donates to Support Kerrville Storm Victims, Mobilizes Team for Restoration Efforts

Kerrville, Texas — In the aftermath…

July 9, 2025

Bitcoin Tops $109,000 After Senate Passes Trump’s ‘Big Beautiful Bill’ – “The Defiant”

The crypto market posted modest good…

July 9, 2025

Two vital hazard alerts within the June employment report – Indignant Bear

Two vital hazard alerts within the…

July 9, 2025

Simone Biles Thirst Traps in Bikini Amidst Boob Job Hypothesis

Studying Time: 3 minutes Simone Biles…

July 9, 2025

You Might Also Like

Solana Underperforms Ethereum as SOL ETF Commences Buying and selling – “The Defiant”
NFTs

Solana Underperforms Ethereum as SOL ETF Commences Buying and selling – “The Defiant”

The REX Shares ETF went dwell right now and garnered $8 million in quantity inside the first 20 minutes, however…

2 Min Read
Belgium’s KBC Financial institution With 0 Billion Property to Launch Bitcoin and Ether Buying and selling on Bolero Platform Pending Autumn 2025 Approval – “The Defiant”
NFTs

Belgium’s KBC Financial institution With $300 Billion Property to Launch Bitcoin and Ether Buying and selling on Bolero Platform Pending Autumn 2025 Approval – “The Defiant”

Belgium’s KBC Financial institution, the nation’s second-largest banking establishment with roughly 4 million customers and $300 billion in property, plans…

1 Min Read
Tom Lee Predicts Goldman Sachs, JPMorgan Will Purchase Ethereum to Help Stablecoin Operations – “The Defiant”
NFTs

Tom Lee Predicts Goldman Sachs, JPMorgan Will Purchase Ethereum to Help Stablecoin Operations – “The Defiant”

Tom Lee, a widely known market strategist, has forecasted that main banks comparable to Goldman Sachs and JPMorgan are prone…

1 Min Read
Dubai Regulator Approves First Tokenized Cash Market Fund – “The Defiant”
NFTs

Dubai Regulator Approves First Tokenized Cash Market Fund – “The Defiant”

The Dubai Monetary Providers Authority has granted regulatory approval for the QCD Cash Market Fund, the primary tokenised money-market automobile…

1 Min Read
The Texas Reporter

About Us

Welcome to The Texas Reporter, a newspaper based in Houston, Texas that covers a wide range of topics for our readers. At The Texas Reporter, we are dedicated to providing our readers with the latest news and information from around the world, with a focus on issues that are important to the people of Texas.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact Us

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© The Texas Reporter. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?