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A South American neobank has announced a maor partnership to utilize Avalanche's blockchain technology.
Littio, a Colombian neobank focused on combating currency devaluation in Latin America, has partnered with OpenTrade to offer innovative financial products via the Avalanche blockchain. By utilizing OpenTrade’s real-world asset (RWA)-backed yield vaults, known as “Yield Pots,” Littio provides customers with dollar-denominated savings options that yield returns backed by U.S. Treasury Bills.
This collaboration enhances Littio’s ability to serve the region’s growing demand for secure financial solutions, particularly among users facing high inflation and limited access to banking services.
The partnership comes at a crucial time for Latin America, where nearly 70% of the population remains unbanked, often due to strict regulations and a lack of trust in traditional banks. Littio’s mobile app addresses this gap by allowing users to easily convert local currencies into dollars through USDC, and to save and spend these funds securely. With over $80 million in transactions processed and nearly $250,000 in user returns generated within four months, the Yield Pots have already demonstrated their appeal.
OpenTrade’s integration with Avalanche provides Littio with a reliable infrastructure for scaling its offerings. Avalanche’s low transaction fees and fast processing times make it an attractive platform for such innovations. According to Morgan Krupetsky from Ava Labs, this technology can empower underbanked populations by providing access to essential financial products that were previously unavailable.
As Littio continues to expand its services, the partnership with OpenTrade highlights the potential of blockchain technology to enhance financial inclusion in Latin America, offering a stable and secure way for users to manage their savings in a challenging economic environment. Users can access OpenTrade’s Yield Pots directly through the Littio app, making it easier than ever to save and earn in a stable currency.