Colombia’s Wenia platform expands crypto portfolio with EURC stablecoin integration

Grupo Bancolombia’s cryptocurrency platform Wenia now offers the EURC, a euro-pegged digital stablecoin.

According to Cointelegraph, integrating EURC, a 1:1 restricted and controllable euro digital currency, into Wenia is expected to enhance the user’s experience by providing a seamless way to transact using a trusted digital currency.

Growing crypto offering to better serve users

With this integration, EURC becomes the third stablecoin offered by the Wenia platform, following COPW (a digital currency pegged to the Colombian peso) and USDC, which is a well-known dollar-pegged digital coin in the crypto world.

As well as these stablecoins, users can also trade many other cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Solana (SOL), Avalanche (AVAX) and Polkadot (POL).

This variety is intended to cover several levels of investment strategies and preferences, and the user interest in Colombia for dealing with cryptocurrencies continues to grow.

Pablo Arboleda, CEO of Wenia, emphasized the significance of this latest integration, stating to Cointelegraph, “This is the eighth crypto asset available on the Wenia App and reinforces our commitment to provide our users with more options”.

“We want to offer them the freedom to manage their digital assets no matter where they are. The incorporation of EURC responds to the rising demand for stable crypto assets and to our mission to serve as a bridge between people and the crypto world, ensuring security and efficiency.”, he added.

Simple steps to access EURC

Wenia mapped out the processes users would have to follow before being able to use EURC within its app.

Buy COPW starting from 5,000 Colombian pesos through Bancolombia, Nequi, or credit/debit cards from any bank.

Convert their COPW to EURC within the platform.

After acquiring EURC, users can send and receive funds between Wenia wallets or external wallets and can convert EURC to other available crypto assets.

Wenia prioritizes user-friendliness in the digital asset market, which may often be complicated.

Once users have acquired EURC they can transfer funds between Wenia wallets or between Wenia wallets and external wallets and can swap between EURC and other supported crypto assets

A statistical approach to the growth of Stablecoins

Stablecoins are a type of cryptocurrency designed to maintain a stable value against fiat currencies, and since they have become an essential part of the crypto industry, they are included in the top currencies list.

Chainalysis reports that stablecoins make up 44.7% of the global cryptocurrency market.

Colombia has a strong stablecoin market, accounting for 66% of all crypto transactions.

Wenia’s growth within the crypto ecosystem

Integrating EURC into Wenia’s platform represents a key milestone in supporting the increasing demand for digital currencies in Colombia.

Wenia provides customers with a stable and easy-to-use platform, which is driving the crypto growth in the region.

Wenia is improving its service stack and bridging traditional financial markets with cryptocurrency trends as it grows its services and customer engagement.

Wenia remains committed to improving user access to financial tools as the digital asset ecosystem evolves.