Colombian fintech Littio announced the launch of EURO IBAN accounts offering 6% yields, utilizing Circle's EURC stablecoin and OpenTrade's solutions on the Avalanche blockchain. This paves the way for borderless high-yield banking services.
Bringing Euro Savings to Latin America
Littio’s EURO IBAN accounts address a pressing issue in Latin America – currency devaluation and limited access to stable currency savings products. The platform allows users to instantly open accounts, earn 6% yields, and send and receive payments with no minimum balance requirements. By leveraging blockchain technology, Littio offers borderless, fast, and transparent financial services to smartphone users.
How It Works
The EURO IBAN accounts are powered by Circle’s EURC stablecoin and OpenTrade’s Yield Pots platform, built on Avalanche. Littio offers faster transactions, lower fees, and transparent operations using EURC. Yields are generated by investing in corporate bonds and other financial instruments via OpenTrade.
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 population remains unbanked, mainly due to strict anti-money laundering laws and high minimum balance requirements. Littio addresses these challenges, offering zero minimum balance accounts and high-yield savings options. It also supports migrants and freelancers working with European clients.
By leveraging Avalanche's technology, Littio can offer its rapidly growing user base faster, cheaper, and more scalable financial products, supporting financial inclusion in the region.
