Latin America’s financial landscape is getting a blockchain-powered upgrade. Minteo, a Bogotá-based fintech startup, has launched COPM, the first Colombian peso-pegged stablecoin designed to streamline payments, remittances, and cross-border trade across the region. Backed 1:1 by cash reserves in regulated banks and audited monthly by global firm BDO, COPM aims to solve long-standing challenges like high transaction fees, currency volatility, and fragmented banking systems 1 2 3.
Why Latin America Needs Local Stablecoins
Dollar-backed stablecoins like USDC dominate global crypto markets, but they’re ill-suited for daily transactions in peso-driven economies. “People here use pesos to pay rent, buy groceries, and run businesses,” explains Santiago Rodríguez, Minteo’s CEO. “A local stablecoin isn’t just convenient—it’s essential for building real-world blockchain solutions” 2 4.
COPM’s launch comes as Latin America sees surging demand for digital assets. In Colombia alone, over 100,000 users already transact with COPM through platforms like Littio, which offers debit cards linked to the stablecoin 1 4. Meanwhile, partnerships with networks like Celo—which integrated COPM into its ecosystem in late 2024—are expanding its utility for cross-border liquidity 5.
How COPM Works: Transparency Meets Practicality
• 1:1 Reserves: Every COPM token is backed by a Colombian peso held in regulated banks, ensuring stability 1 3.
• Monthly Audits: BDO, a top auditing firm, verifies reserves and compliance, addressing concerns about transparency 2 3.
• Instant Swaps: Users can convert USDC or other stablecoins to COPM seamlessly, avoiding traditional banking delays 3 6.
This infrastructure isn’t just for crypto enthusiasts. Businesses benefit from:
• 24/7 Transactions: No more waiting for banking hours or holidays.
• Low-Cost Remittances: Migrant workers can send funds home with minimal fees 10.
• FX Risk Mitigation: Companies avoid losses from peso volatility during cross-border deals 4 6.
Real-World Impact: From E-Commerce to Cross-Border Trade
Minteo’s vision extends beyond Colombia. Plans are underway to launch similar stablecoins for Mexico (MXNM), Chile (CLPM), and Peru (PENM), creating a unified settlement layer for Latin America 3. Early adopters include:
• Littio: Over 200,000 users leverage COPM-backed debit cards for everyday spending 4.
• Tropicus: A lending platform offering peso-denominated loans collateralized by USDC, sidestepping sky-high local interest rates 4.
• Celo Network: Integration enables frictionless crypto-to-fiat conversions, boosting regional liquidity 5.
The Bigger Picture: Latin America’s Crypto Surge
COPM arrives amid a regional stablecoin boom. In Argentina and Brazil, stablecoins now account for ~60% of crypto activity, driven by inflation hedging and demand for efficient cross-border payments 7 10. Bitso’s recent MXNB peso stablecoin launch in Mexico further highlights the trend 8.
William Durán, Minteo’s co-founder, sees this as just the beginning: “We’re enabling a new wave of fintech innovation—lending, derivatives, and tokenized assets will thrive on stablecoin rails” 2.
Looking Ahead
Minteo’s roadmap includes expanding its API for businesses to automate payouts and tokenize assets. With Latin America’s crypto market projected to grow 35% annually, COPM and its peers could redefine how the region moves money—no SWIFT delays or middlemen required 3 10.
As Rodríguez puts it: “Blockchain isn’t just about speculation. It’s about fixing broken financial systems—one peso at a time” 4.
For more on Latin America’s crypto evolution, explore our coverage of Brazil’s CBDC trials or Argentina’s regulatory shifts.
