SukuPay Becomes First Crypto Infrastructure Embedded in a Major Latin American Bank App
May 21, 2025
Source: yahoo.com
SukuPay, a Newby Ventures entity, announces landmark integration with Banco Industrial, Guatemala's largest bank, becoming the first crypto-native protocol embedded in a top-tier Latin American retail bank.
via PRNewswire
NEW YORK, May 21, 2025 — Today, SukuPay, the fintech company modernizing cross-border payments through invisible crypto infrastructure, has been fully embedded as the remittance engine inside Zigi, the mobile app of Banco Industrial, Guatemala's largest bank, in a breakthrough for blockchain-powered finance.
This integration marks the first time a crypto-native protocol has gone live at this depth inside a top-tier Latin American retail bank — and it's already serving everyday users.
Guatemalans can now receive funds from the U.S. instantly and securely for a flat $0.99 fee, using only a phone number through their existing bank app. No IBANs, no crypto wallets, no hidden steps.
"This isn't a feature — it's a financial infrastructure upgrade," said Yonathan Lapchik, CEO of SukuPay. "By embedding SukuPay inside Zigi, Banco Industrial has become the first bank in Latin America to fully adopt stablecoin rails as a core remittance engine. We're not offering a crypto product. We're powering real-world payments that actually work for real people — banked or unbanked."
Reimagining Remittances with Real Impact
Each year, over $165 billion is sent in remittances from the U.S. to Latin America, with Guatemala receiving over $21 billion in remittances annually, making it the second-largest recipient in Latin America after Mexico. However, traditional remittance services remain outdated and burdened by high fees, slow settlement, and painful user experiences.
SukuPay solves this by abstracting away crypto complexity. Users send and receive money through phone-number-based identity, embedded within the familiar Zigi app. Whether initiated by debit card, Apple Pay, or cash at retailers like Walmart or CVS, funds arrive in Guatemala in under 20 seconds, 24/7.
A Blueprint for the Future of Bank-Fintech Collaboration
Rather than building their own cross-border infrastructure from scratch, Banco Industrial, through its consumer app Zigi, partnered with SukuPay to modernize remittances without compromising on compliance, customer trust, or user experience.
"With SukuPay's infrastructure embedded directly into Zigi, we're not just improving remittances, we're setting a new standard," said Michel Caputi, Head of Strategic Alliances Division at Banco Industrial. "This is a modern solution to a legacy problem — and we're proud to lead the way in Latin America."
