On February 25, 2025, Colombian fintech company Littio announced the launch of new virtual EURO IBAN accounts offering 6% annual yields. Utilizing Circle's EURC stablecoin and OpenTrade's solutions on the Avalanche blockchain, the offering provides high-yield banking options for Latin Americans and Europeans.
Littio's Launch of Euro Savings
Littio's new euro accounts aim to address pressing issues in Latin America, such as currency devaluation and limited access to savings products. These accounts allow users to open euro-denominated IBAN accounts, earn 6% annual yields, and send cross-border payments without minimum balance requirements.
Technology Behind the Accounts
The IBAN accounts are powered by Circle's EURC stablecoin and OpenTrade's 'Yield Pots' on the Avalanche blockchain. EURC is a euro-backed digital asset, offering fast, low-cost feedback, and transparent transactions. OpenTrade provides RWA-backed yield products by investing in US Treasury Bills and other instruments.
Need for Stable Currency in Latin America
Latin America faces high inflation and limited access to global financial products. Littio addresses these issues by offering zero minimum balance accounts with transparent transactions. This solution will benefit freelancers, migrants, businesses, and students, opening new opportunities for financial inclusion through Avalanche's technologies.
The launch of Littio's euro account represents a significant step towards inclusive financial services, providing high-yield and stable currency solutions for the populations of Latin America and Europe. The use of the Avalanche blockchain makes this project particularly attractive due to its speed and low costs.
