Colombian fintech company Littio has announced the launch of new EURO IBAN accounts, offering a 6% annual yield by leveraging Circle's EURC stablecoin and OpenTrade solutions on the Avalanche blockchain.
Bringing Euro Savings to Latin America
Littio’s EURO IBAN accounts aim to solve pressing issues in Latin America, such as currency devaluation and limited access to savings products in stable currencies. The platform allows users to instantly open euro-denominated IBAN accounts, earn 6% annual yields on their euro savings, send and receive cross-border payments, and hold savings without minimum balance requirements.
How It Works
The EURO IBAN accounts are powered by Circle’s EURC stablecoin and OpenTrade's Yield Pots, built on the Avalanche blockchain. 1. EURC Integration: Circle’s EURC stablecoin is a euro-backed digital asset designed to maintain a 1:1 peg with the euro, enabling faster transactions and lower fees. 2. Yield Generation via OpenTrade: OpenTrade provides real-world asset-backed yield products through its blockchain-based platform. Littio users can deposit EURC into Yield Pots, which generate returns by investing in U.S. Treasury Bills, Structured Credit, and Supply Chain Finance.
Why Latin America Needs Stablecoin Banking
Latin America faces high inflation, volatile local currencies, and limited access to global financial products. Approximately 70% of the region's population remains unbanked due to strict AML laws, high minimum balance requirements, and mistrust of traditional banks. Littio’s offering addresses these challenges by providing zero minimum balance accounts, instant account creation, and transparent, on-chain transactions.
Littio provides accessible and high-yield financial products to residents of Latin America by harnessing the power of Avalanche blockchain technology and stablecoins.
