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Lemon, an Argentina-based cryptocurrency exchange and wallet, has received a license to allow fiat-crypto interactions in Peru. The exchange, the first to receive such a license in the country, now eases the processes required to deposit and exchange fiat for crypto, with users only needing a phone number for this task.
Lemon Receives First Fiat-Crypto Interoperability License in Peru
Lemon, a popular Argentina-based and Latam-focused cryptocurrency exchange, has recently announced that it has reached a milestone in Peru, having received the first fiat-crypto interoperability license in the country. The company, which has over 2.6 million users in Latam, will allow Peruvians to transfer fiat currency from and to its Lemon accounts with only a telephone number.
According to Tomas Field, Lemon’s PR Manager, the company has accrued over 12,000 users in just three months of its launch in the country and it aims to reach 120,000 users in 2024.
The main objective behind these service implementations is to facilitate the onboarding of Peruvian users to crypto, allowing them to transfer fiat currency and immediately easily purchase digital assets.
Federico Biskupovich, Lemon COO, highlighted the relevance of this development for the Peruvians wishing to enter the cryptocurrency market. He stated:
Until a few months ago, to buy cryptocurrencies in Peru you needed to be an expert. Starting today, users can pay or exchange soles from any account to Lemon and buy cryptocurrencies instantly. This is a great year for the Peruvian financial ecosystem.
In May, Lemon founder Marcelo Cavazzoli, announced the launch of Lemon’s crypto-only phase in Peru, stating that it was a Latam product made for the region. Also, he stressed that in this first phase, the company would measure the real demand for each crypto product of its portfolio. “This first launch stage will allow us to understand in depth what the community in each country needs in order to integrate new functionalities with them,” Cavazzoli reported.