Peru’s Banking Giant BCP Executes Landmark Crypto Payment in Historic Pilot

Peru's largest bank just shattered traditional finance barriers—executing its first-ever cryptocurrency transaction through a groundbreaking banking pilot program.

The Crypto Breakthrough

BCP's move signals Latin America's accelerating embrace of digital assets, bypassing legacy banking infrastructure with blockchain efficiency. This pilot doesn't just test technology—it tests Wall Street's reluctance to adapt.

Regional Domino Effect

Watch neighboring banks scramble to match BCP's innovation as digital currency integration becomes the new competitive battlefield in emerging markets.

Traditional finance executives meanwhile are probably still trying to explain to shareholders why they didn't see this coming—again.

Inside the Blockchain Gifts Pilot 

The initiative, called Blockchain Gifts, is part of BCP’s internal innovation lab. It operates using public blockchain Polygon, but restricts token use through smart contracts. These tokens, named GIFT, are not tradable or market-facing. They are also exclusively issued to selected employees and to be used only at BCP’s in-house cafeterias.

The pilot focused on user experience rather than market speculation. Employees weren’t required to invest or expose themselves to crypto market volatility. The tokens also carry an expiration period, after which they are “burned”, which is a security and control measure.

“We wanted to understand how much difficulty a person who knows nothing about cryptocurrencies, but is familiar with digital wallets, might encounter when downloading a wallet, adding a token, and using it. Everything was provided by the bank, with no financial risk to the user,” Tarrillo explained. 

Reportedly, BCP is also participating in CriptoCocos, another crypto project under Peru’s regulatory sandbox; however, it has not yet launched publicly. Although there isn’t a clear crypto regulatory framework in Peru, BCP is actively building up its own capabilities so that it will be prepared for regulations when they do come.

With this transformative move, BCP is integrating blockchain solutions into the country’s traditional finance. With over 1.5 million crypto users in the country, this initiative attempts to grow into cross-border payments and remittances.

Also Read: South Korea Caps Crypto Lending Rates, Bans Leveraged Loans