Bancolombia reported through the Financial Superintendence the start of operations of its subsidiary, subsidiary of Bancolombia Investment Banking, Wenia, a company incorporated in Bermuda that will develop businesses related to digital assets.
According to the information shared, Wenia will operate as a provider of services linked to digital assets through its digital platformwhich will initially be available for Colombia.
“With the consolidation of Wenia, developed with high safety standards and the best practices in the industry, today we begin to materialize this path in which we want to provide our clients with a reliable experience and a new way of using their money. Our purpose is to help people connect with the crypto side in a more accessible, inclusive and efficient way,” says Pablo Arboleda, CEO of Wenia.
Business clients will be able to buy, sell, convert, receive and send the digital assets available on the platformamong them COPW, a digital asset created by Wenia and referenced 1:1 with the Colombian peso.
Regarding the issue of surveillance, Wenia has a Class F license granted by the Bermuda Monetary Authority.the entity responsible for regulating the activities carried out by Wenia, under the Bermuda Digital Asset Business Act of 2018.
Bancolombia Group clarified that their entities will not be exposed to digital assets as a result of the creation or entry into operation of Wenia.
