AlphaPoint Partners with Bancolombia Subsidiary Wenia to Launch Next-Generation Exchange

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May 16, 2024, 09:00 ET

NEW YORK, May 16, 2024 /PRNewswire/ -- AlphaPoint, a leading provider of digital asset infrastructure of exchanges, brokerages, payment networks, and banking, today announced its partnership with Wenia, a subsidiary of Bancolombia, to launch their innovative exchange offering. The application, built on AlphaPoint's Exchange platform, provides a seamless and secure way to buy, sell, convert, receive, and send various digital assets, including the newly introduced CopW (Colombian Peso Wrapped), a new Colombian peso stablecoin on the Polygon network.

Bancolombia Group's investment into Wenia is a monumental milestone and acknowledgement of the future of financial products with blockchain technology in Colombia and Latin America. The next wave of user adoption will come from projects like this, backed by highly respected and trusted financial institutions, to provide safe and reliable platforms that customers can use for everyday investing. Latin America is an extremely attractive region for cryptocurrency and blockchain solutions, with high rates of unbanked and underbanked populations.

"The launch of the Wenia marks a significant milestone in the adoption of digital assets not only in Colombia but worldwide," said Igor Telyatnikov, CEO of AlphaPoint. "We are proud to have been selected for this important project and are excited by its public launch. Now we get to deliver on our mission of enabling access to digital assets globally with a stellar partner.

Telyatnikov added, "At AlphaPoint, we believe in widespread access to digital assets, and are witnessing one of Colombia's largest financial institutions invested in providing a trusted and reliable way for individuals to transact. AlphaPoint's technology is the backbone that makes this possible, offering a secure and scalable infrastructure for digital asset management."

The introduction of CopW, a stablecoin pegged 1:1 with the Colombian peso, marks a significant milestone in the adoption of digital assets in the region. Wenia operates under a Class F license granted by the Bermuda Monetary Authority, ensuring the highest standards of security and transparency. Stablecoins provide efficient transfer of value between counterparties using blockchain technology and are one of the most used tokens in the space, with over 60B in AUM existing in stablecoins.

Premier David Burt of Bermuda commented, "AlphaPoint has been providing services to regulated platforms worldwide. Their partnership with Wenia showcases Bermuda's commitment to fostering innovation in the digital asset space, while maintaining the highest regulatory standards. We are pleased to see AlphaPoint's technology being leveraged to enable secure and reliable access to digital assets for users in Colombia and beyond, further cementing Bermuda's position as a leading jurisdiction for digital asset businesses."

About AlphaPoint
AlphaPoint is a global financial technology company providing digital asset infrastructure to power the next generation of exchanges, brokerages, payment networks, and banking. Our full-suite products provide trusted, secure, scalable, and customizable solutions for trading, payments, lending, custody, and more.

AlphaPoint has enabled over 150 customers in 35 countries including the CME Group, XP Securities, and Chivo. AlphaPoint has powered over 1 trillion in trading volume and the technology has handled billions in assets on the platform. Over the past decade, we have received multiple prestigious awards recognizing our innovations, exponential growth and leading technology in the fintech and digital asset space, positioning us to continue empowering our clients. For more information, please visit https://alphapoint.com/ and connect with us
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SOURCE AlphaPoint Corporation