Guatemala’s Top Bank Integrates USDC Stablecoin for Low-Cost U.S. Remittances

Banco Industrial, Guatemala’s largest financial institution, has implemented SukuPay’s stablecoin infrastructure to streamline remittance payments from the United States. The innovative solution allows Guatemalan recipients to access funds for a flat $0.99 fee through the Banco National mobile app Zigi, requiring only a phone number for transactions.

Developed by Suku, SukuPay utilizes Polygon’s Ethereum scaling solution and USDC stablecoin to facilitate cross-border transfers while eliminating the need for users to create cryptocurrency wallets. This integration represents the first major deployment of crypto-native technology within a leading Latin American retail bank.

The MOVE highlights the expanding influence of stablecoins, now a $230 billion market segment, in optimizing international money transfers. By circumventing traditional financial intermediaries, the platform significantly reduces both costs and processing times for end-users.