BlackRock's IBIT Launch in Chile

BlackRock has introduced its iShares Bitcoin Trust (IBIT) to the Santiago Stock Exchange in Chile. Managed by BCI Corredores de Bolsa, this launch allows Chilean investors to participate in Bitcoin investments at an institutional level.

This launch follows Brazil, where BlackRock launched the same ETF earlier in March. According to GTD, 74% of Chileans recognize Bitcoin as the leading cryptocurrency in the market.

The ETF, which began trading on June 27, benefits from BlackRock's technological expertise and managing approximately 1,300 other ETFs.

Silvia Fernández, the Country Head of BlackRock Chile, stated, "This launch fills us with pride, as it is in line with BlackRock's long history of innovation in the financial markets.

Now, investors in Chile will have an accessible and efficient digital asset to include in their portfolios, backed by the extensive experience in risk management that our iShares ETFs have."

IBIT has established itself as the world's most prominent Bitcoin ETF, with over $20 billion in assets since it began trading in January 2024.

Bolivia's Cryptocurrency Ban Revoked

The Bolivian government recently announced the end of its ban on cryptocurrencies and authorized crypto use in Electronic Payment Instruments (IEP). Bolivia Central Bank President Edwin Rojas announced the decision, which marks a shift in the country's approach to digital commerce.

The reversal of the 2020 Resolution 144, which previously restricted cryptocurrency transactions, involved the Financial Investigations Unit and the Financial System Authority. Despite this change, the Boliviano remains the only legal tender.

The Central Bank stresses that all risks associated with virtual assets are the user's responsibility. It highlights that these assets are not considered legal money and are not obligatory for payments.

The Central Bank is committed to adapting existing regulations and launching educational campaigns. This initiative aligns with recommendations from the Latin American Financial Action Task Force, which suggested regulating virtual asset services to meet new financial realities and the expanding use of blockchain technologies.

Santander's Crypto Trading in Brazil

Santander announced it will start offering cryptocurrency trading services in Brazil. Santander's Brazilian investment platform, Toro, will provide retail customers access to Bitcoin and Ethereum.

Previously, these crypto assets were available only to the bank's private clients through ETFs. This move follows similar offerings by other Brazilian banks such as Itaú, Nubank, Inter, and BTG Pactual.

Toro founder and CEO João Resende explains that negotiations begin with offering the two most significant digital currencies to selected clients with an appropriate risk profile for the product. "The product will be aimed at clients with an aggressive risk profile.

The new service will be rolled out to the broker's base of more than one million active clients." Resende says Toro is considering offering other digital currencies and tokenized assets.

According to a report by Valor Econômico, the success of this initiative in Brazil might lead to its expansion across other Santander branches worldwide.

Costa Rica's Crypto Money Laundering Bust

Costa Rican authorities recently dismantled a money laundering scheme involving cryptocurrencies, including Bitcoin. After a 30-month investigation, local police arrested 36 individuals last Tuesday, including judges, lawyers, and two Spanish nationals.

Randall Zúñiga, director of the Judicial Investigation Agency (OIJ), explained that the gang stole properties from Costa Rican residents and legitimized these assets through cryptocurrency purchases. In one instance, the organization moved $13 million in Bitcoin daily.

"There is a whole team dedicated to cryptocurrencies. In one day, they made a $13 million transaction in bitcoins. We have identified 25 properties, but over 100 have been stolen.

Conversations suggest they have taken over 300 properties, with one valued at $30 million. This constitutes a multi-million dollar fraud," Zúñiga stated. The operation involved around 500 OIJ agents and conducted 47 raids nationwide.

Lawyers, notaries, public officials, and five traffic officers were arrested. They face charges of registration fraud, ideological falsehood, and money laundering.

Nubank and Lightspark's Partnership

Nubank has partnered with Lightspark to deploy the Bitcoin Lightning Network on its Brazilian platform. This alliance will explore potential synergies and development opportunities, with more specific details to be announced later.

Lightspark will provide Nubank with an enterprise-grade gateway to the Lightning Network, facilitating reliable, near real-time transactions for Bitcoin and fiat currencies at reduced costs.

"The partnership with Lightspark, which has developed an excellent technical solution for Bitcoin's Lightning network, is another step in Nubank's mission to provide the best solutions for our customers and strengthen our long-term relationship with them," stated Thomaz Fortes, CEO of Nubank Crypto.

The collaboration will allow Nubank's teams to enhance the end-to-end customer experience by focusing on product innovation without the burden of managing a large-scale Lightning deployment.

This integration represents a significant advancement in the adoption and efficiency of digital financial transactions, promising a faster, more affordable, and more secure service for Nubank's customers. It's a significant milestone for the Lightning Network and is expected to significantly increase its overall network utilization.