Bitcoin (BTC) and cryptocurrency exchange Binance has integrated with Colombia’s Bre-B payment system.
Thanks to this partnership, platform users can now make deposits and withdrawals in Colombian pesos regardless of the time of day or day of the week.
Bre-B was developed by Bank of the Republic of Colombia, An interoperable payment system As CriptoNoticias was able to verify, it will now be possible to instantly transfer Colombian pesos between banks and digital wallets using a unique key such as a phone number, ID, or email.
The addition of Bre-B marks another step for Binance in the Colombian market by enabling instant bank transfers to and from the platform. This change may impact user fluidity and user interaction speed, but the impact will vary depending on the level of system adoption.
This integration enables continuous transfers via Bre-B. without being affected by traditional banking hours.
It is worth clarifying that there may be costs associated with the transaction, depending on each financial institution.
Banks that can participate are those that have introduced an integrated system. These include Banco Agrario de Colombia, Banco Bogotá, Banco Davivienda, Banco Occidente, Banco Caja Social, Banco AV Vilas, Banco GNB Sudameris, Banco Falabella, Banco Pichincha, Banco Popular, Banco Serfinanza, Banco Santander, Citi, Itau, Scotiabank, Colpatria, Bancolombia, etc.
How does the process work?
To deposit using Bre-B from the Binance app, User must access the “Add Funds” sectionselect Colombian Peso (COP) as your currency and select the “Deposit COP” option. Next, “Bank transfer (Bre-B)” must be selected Then define the amount of operation. Once these steps are complete, the system will generate a key. This key must be used from the user’s bank account to perform transfers via Bre-B.
For the Binance website, The process starts from the “Deposit” menu. It’s located at the top of the platform. From there, the user selects COP as the currency. Select “Deposit COP” and select “Bank Transfer (Bre-B)”. This will allow you to continue the same deposit process digitally.
CriptoNoticias can confirm that the integration is indeed fully enabled and that you can add banks compatible with Bre-B services by following the steps provided.
