Banco Industrial, Guatemala’s largest bank, has partnered with digital asset service provider SukuPay to integrate blockchain technology into its banking services, aiming to enhance cross-border transactions for customers. SukuPay's blockchain-based payment solution has been incorporated into Banco Industrial’s mobile app, Zigi, enabling users to send and receive international remittances seamlessly without needing an International Bank Account Number (IBAN) or a digital asset wallet. The service charges a flat fee of $0. 99 per international transaction, with instant settlement confirmed by SukuPay CEO Yonathan Lapchik. Lapchik highlights that embedding digital asset payment rails invisibly into a traditional finance mobile app is an effective strategy for mass Web3 adoption, as it removes technical barriers while maintaining benefits like speed and low cost. He states, “That’s the only way we’ll scale blockchain to billions of people – by building the rails, not by forcing people to learn how they work. ” A primary use for the new cross-border feature is international remittances, significant for Guatemala, which receives up to $21 billion annually. Banco Industrial’s extensive operations across Latin America—including Panama, El Salvador, and Honduras—position it strongly in the regional remittance market, marking a strategic milestone for SukuPay. Regionally, Latin America is the second-fastest-growing area for Web3 adoption, driven by increased interest in stablecoins for inflation protection and cross-border payments, with Brazil and Argentina leading.

Argentina’s Buenos Aires is deploying blockchain-based digital IDs for millions, while Guatemala may soon accelerate adoption through this bank partnership. Separately, the World Economic Forum (WEF), alongside the Tony Blair Institute and the Chartered Institute of Export and International Trade, endorses the Twin Foundation, a blockchain-based initiative aimed at digitizing international trade documents. Twin Foundation seeks to replace traditional paperwork with digital documents such as e-bills of lading and commercial invoices, streamlining processes and bolstering transparency while enabling controlled document sharing. Initially, the initiative targets government onboarding, starting with Kenya’s customs and revenue agencies as a pilot project. Jens Munch Lund-Nielsen from the Iota Foundation emphasizes that this tamper-proof system could revolutionize global trade by moving away from conventional paper and stamps. The WEF actively promotes blockchain technology across global economic sectors, recognizing tokenization’s transformative impact on finance and investment and its role in advancing green energy. It also advocates for blockchain-based digital IDs with calls for an international framework, though it currently favors central bank digital currencies (CBDCs) over stablecoins. [Watch | Centi: Bridging digital money and traditional banking]