Lemon, a leading Argentina-based cryptocurrency exchange focused on the Latin American market, has reached a significant milestone in Peru by securing the country’s first fiat-crypto interoperability license. This breakthrough allows Peruvian users to seamlessly transfer fiat currency to and from their Lemon accounts using just a phone number, significantly simplifying the process of entering the cryptocurrency market.
Since its launch in Peru, Lemon has rapidly gained traction, amassing over 12,000 users in just three months. The company aims to expand its user base to 120,000 by the end of 2024. According to Tomas Field, Lemon’s Public Relations Manager, the primary objective of these services is to make it easier for Peruvian users to enter the crypto ecosystem, enabling them to transfer fiat currency and purchase digital assets effortlessly.
Federico Biskupovich, Lemon’s Chief Operating Officer, highlighted the importance of this development for potential cryptocurrency users in Peru. He stated, “Until a few months ago, buying cryptocurrencies in Peru required expertise. Starting today, users can transfer or exchange soles from any account to Lemon and instantly purchase cryptocurrencies. This is a pivotal year for the Peruvian financial ecosystem.”
In May, Lemon’s founder, Marcelo Cavazzoli, announced the launch of the crypto-only phase in Peru, positioning it as a product tailored specifically for the region. He emphasized that this initial phase would allow the company to assess the true demand for its crypto offerings, stating, “This first launch stage will help us deeply understand what the community in each country needs, so we can integrate new functionalities with them.”
Lemon’s innovative approach aims to bridge the gap between traditional finance and cryptocurrencies, making it easier for users to engage with digital assets. The company plans to further expand its services across Latin America, capitalizing on its growing user base and the increasing acceptance of cryptocurrencies in the region.
Securing the first fiat-crypto interoperability license in Peru marks a major advancement in enhancing access to cryptocurrencies for everyday users. By simplifying the process of buying and selling digital assets, Lemon is poised to play a crucial role in the evolution of the financial landscape in Peru and beyond.
