Colombian fintech Littio has announced the launch of EURO IBAN accounts offering 6% annual yields. This move expands access to borderless savings opportunities for both Latin Americans and Europeans using blockchain technology.
Bringing Euro Savings to Latin America
Littio's EURO IBAN accounts aim to address the pressing issue of currency devaluation and limited access to savings products in stable currencies in Latin America. The platform allows users to instantly open euro-denominated accounts, earn 6% annual yields, send and receive cross-border payments, and hold savings without minimum balance requirements. Unlike traditional banks, Littio's offering is borderless, fast, and transparent.
How It Works
The EURO IBAN accounts leverage Circle's EURC stablecoin and OpenTrade's yield solutions, built on the Avalanche blockchain. EURC is a euro-backed digital asset designed to maintain a 1:1 peg with the euro, offering faster transactions, lower fees, and transparent, on-chain transactions. OpenTrade provides real-world asset-backed yield products that invest 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, with about 70% of the population unbanked. Littio's offering addresses these challenges by providing zero minimum balance accounts, instant account creation, and transparent transactions, while also being suitable for freelancers, migrants, businesses, and students.
Avalanche's infrastructure has proven particularly effective for real-world asset tokenization, cross-border payments, and stablecoin-based products. By leveraging Avalanche, Littio offers faster and cheaper financial products to its growing user base.
