The Argentine company specializes in services Blockchain, Koibanx It is planned to enter the Mexican market as soon as the pandemic context permits. This was explained by Mariana Burgues Aguiar, communications coordinator at Koibanx, in an exclusive interview with DailyBitcoin.
Koibanx is a company dedicated to the development of technology-based solutions Blockchainwith products for governments and private companies. The aim of the company founded in 2014 is to contribute to the creation of a more efficient economic and financial ecosystem.
Among the founders, some of the key ecosystem leaders stand out at regional level, including Leo Elduayen (co-founder and COO of Koibanx), Vice President of NGO Bitcoin Argentina and Diego Gutiérrez Zaldívar (co-founder and partner), CEO and co-founder of IOV Labs.
This technology space company has sponsored several projects in Latin America. Last year, Koibanx generated the first wallet Blockchain with RSK technology for the Argentine government. He has also worked with the Colombian bank Davivienda for the development of a digital wallet.
“”Digital money is already installed in people’s minds. We make this tool easier so that people have more and better access to financial services. We choose blockchain as technology to ensure this“Burgues commented on the project by Koibanx.
Koibanx expands to Mexico
While dozens of companies in Latin America are suffering from the effects of the coronavirus crisis, the company is Koibanx See an opportunity to expand your services. Through the innovation program Startup boot campand in collaboration with FinnovistaThe team from Koibanx developed an expansion program for the Mexican market.
With various partners and several active users in Argentina, Uruguay and Colombia, the team from Koibanx saw Mexico as a great opportunity to showcase its technology services. “”It was the logical step for us this year“Burgues pointed this out when explaining the growth plan.
We have a team that is fully prepared to enter the Mexican market with a product that works with more than 100,000 active users in Latin America. We will open offices in Mexico City as soon as the context allows..
The cooperation program with Finnovista It enabled them to understand the structure and peculiarities of the Mexican market in order to adapt their product to the needs of the region. In the words of the member of Koibanxis it an opportunity to “Enter a market where we see that there is still a lot to do. We believe that thousands of people in Mexico can benefit from it of a financial asset service“”
Blockchain for financial institutions
Understand how institutions can benefit from the services KoibanxBurgues explained this It is a platform Backend which connects at API from banks to collect user information. In this way, bank customers continue to access traditional channels – mobile applications or online banking – and behind it a robust platform that uses this Blockchain for securities transactions.
Burgues also emphasized that the transaction of digital assets enables accreditation to be accredited three times faster and cheaper than traditional mechanisms such as debit or credit cards. This is a feature that banks like Davivienda They have already used this in Colombia and it is not only beneficial for institutions, but also for small and medium-sized companies.
In Mexico, we see the opportunity to give banks and financial institutions the opportunity to digitize assets. Koibanx is approaching the Mexican market as a partner so that the country’s institutes can rely on a certified and secure platform with the standards of approved banks.
On the cutting edge of Mexico’s fintech law, says Koibanx
The company team Blockchain Argentina also stated that it was in line with that Fintech law from Mexico, which entered into force last year. To carry out the certification, Koibanx He worked with a group of lawyers to ensure that the company’s services were in order under national law.
Before the fintech law, we had to differentiate our product and platform – which is based on blockchain – from cryptocurrencies. On this page we already make sure that we have no legal obstacles.
On the other hand, Burgues also expressed that the platform team “a pleasant surprise“in Mexico. From meetings with institutional members, Koibanx could check if the country is already familiar with the technology Blockchain. “”It is not a new topic for the local market and even many banks have already tested the technology“, he showed.
Given this scenario, the enthusiast stated that the Mexican institutions “are ready to integrate technology“” In this context, he recalled that the situation was very different from that in previous years, when it took a long time to train the institutions before they signed a trade agreement.
Since we started in 2014, we’ve seen a change in that. Unlike then, the institutions already know about technology and its advantages, which paves the way for projects like ours.
Despite the fact that the team did not have a formal agreement in the region, they said they currently have very good relationships with companies and organizations in the country. With this in mind, Burgues said that the team is very optimistic about entering the Mexican market.
COVID-19 will drive technological innovation
During the interview, DailyBitcoin He also took the opportunity to know the opinions of Koibanx to companies in the pandemic. According to the team’s communications manager, COVID-19 has managed to drive technological innovation at the regional level.
The need for Latin America to digitize its financial processes has been evident for years. Although the region has already integrated advanced technologies and solutions, there is still a significant population without banks.
Burgues believes the pandemic is seriously confronting the region with the need for a digital platform that enables vulnerable people, such as older adults or vulnerable people, to mobilize their money without having to go out on the streets or manipulate cash registers.
If COVID-19 has anything positive, it forces us to step on the accelerator of innovation. This, which had been presented as a lower priority, has now become a more immediate need“”
In a post-pandemic scenario, the economic challenges for the region will not be small. There will be an urgent need to boost consumption in order to motorize the economy.
The enthusiast emphasizes that the current crisis could also encourage small communities to take circular economy initiatives to support local businesses. Last year, Koibanx He worked with the Marcos Paz community in Buenos Aires to create his own digital assets to reward good citizen action and promote the local economy.
Other congregations asked us about the project we did with Marcos Paz. […] It is important for all institutions to recognize that blockchain technology can help develop solutions to move forward after this crisis.
Article by Hannah Estefanía Pérez / DailyBitcoin
Image courtesy of Koibanx