Banco Industrial, Guatemala’s largest bank, on May 21, 2025, integrated SukuPay’s blockchain infrastructure into its Zigi mobile app, enabling cost-effective US remittances.
The integration represents a critical shift in Guatemalan remittance processes, leveraging blockchain to enhance efficiency and financial inclusion amid growing remittance volumes.
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Blockchain Empowers Cost-Effective Remittances in Guatemala
The integration of SukuPay with Banco Industrial’s app facilitates cost-effective remittances, using blockchain to transfer funds without a crypto wallet. This development aims to simplify processes for Guatemalan users.
Banco Industrial’s collaboration with SukuPay highlights a significant technological advancement in the region, using stablecoin rails for remittance payments.
The bank’s expansive operations across Central America position it as an ideal partner for introducing this blockchain solution.
New Remittance Model Lowers Fees to $0.99
Guatemalans can now benefit from a flat $0.99 fee for instant remittances. This arrangement strengthens financial inclusion while minimizing traditional banking barriers. Initial expectations suggest a positive economic impact due to improved remittance efficiency.
SukuPay’s infrastructure uses the Polygon network and USDC stablecoin to ensure transactions are swift and secure. This innovative use of technology addresses financial inclusion issues prevalent in Latin American economies.
SukuPay Pioneers Scalable Blockchain Integration
Previous attempts to integrate blockchain in banks lacked scalability. SukuPay’s success exemplifies an exception by aligning its blockchain model seamlessly with established banking systems in Guatemala.
Kanalcoin experts believe such integrations could reshape the financial landscape. Historical data indicates blockchain holds the potential to revolutionize traditional banking, marking a significant inflection point in financial services.
Yonathan Lapchik, CEO of SukuPay, remarked, “The key to mainstream adoption of blockchain technology is making it invisible to the end-user. That’s the only way we’ll scale blockchain to billions of people — by building the rails, not forcing people to learn how they work.”
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