Guatemala’s largest bank adds stablecoin remittance tech in app

In a regional first, SukuPay’s crypto-native payment infrastructure is now powering cross-border remittances inside Banco Industrial’s mobile app, Zigi — marking a significant shift in how Latin American banks adopt blockchain technology.

The integration allows Guatemalan users to receive U.S.-based transfers in under 20 seconds via their existing banking app, for a flat fee of $0.99, according to a note shared with crypto.news. 

Users can initiate payments with a debit card, Apple Pay, or cash through retail partners like Walmart and CVS. The system works using just a phone number, eliminating the need for IBANs, crypto wallets, or conversions.

“This isn’t a feature — it’s a financial infrastructure upgrade,” said Yonathan Lapchik, CEO of SukuPay. “We’re powering real-world payments that actually work for real people — banked or unbanked.”

Inefficiencies addressed

Remittances are a vital lifeline for Latin America, with Guatemala alone receiving over $21 billion annually. Traditional systems are often costly and slow. 

SukuPay addresses these inefficiencies by embedding stablecoin-based transfers directly into a regulated banking environment — invisible to the user, but transformative under the hood.

Banco Industrial chose to integrate SukuPay rather than build its own cross-border infrastructure.

 “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 at Banco Industrial.

The partnership may serve as a model for banks across the region looking to modernize without building from scratch or forcing customers to engage directly with crypto technology.