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The recent announcement by Banco Plaza of Venezuela to officially support Cointable marks a milestone in the relationship between traditional banking and the crypto ecosystem.
This news is significant because Cointable won first place at PlazaLab's "Demo Day," the bank's innovation center, being selected from among 79 initial projects. Their proposal is an accounting application focused on digital assets, operating under a SaaS model, which allows companies to organize transactions with Bitcoin and other cryptocurrencies in accounting reports useful for fulfilling tax obligations.
CEO Jan Domínguez emphasized that this achievement represents a "change in the traditional financial system," as a conservative bank like Plaza is now embracing technological development. The acceleration plan includes mentorship, technical support, and access to investors, which could lead to the application's large-scale launch.
This support also reflects the growing openness of Venezuelan banks to cryptocurrencies, noting that Banco Plaza had already collaborated with the fintech company Kontigo to convert dollar deposits to USDC. Ultimately, the alliance with Cointable is a bridge between traditional banking and the crypto world, with the potential to transform the way companies manage their digital finances.
This news is significant because Cointable won first place at PlazaLab's "Demo Day," the bank's innovation center, being selected from among 79 initial projects. Their proposal is an accounting application focused on digital assets, operating under a SaaS model, which allows companies to organize transactions with Bitcoin and other cryptocurrencies in accounting reports useful for fulfilling tax obligations.
CEO Jan Domínguez emphasized that this achievement represents a "change in the traditional financial system," as a conservative bank like Plaza is now embracing technological development. The acceleration plan includes mentorship, technical support, and access to investors, which could lead to the application's large-scale launch.
This support also reflects the growing openness of Venezuelan banks to cryptocurrencies, noting that Banco Plaza had already collaborated with the fintech company Kontigo to convert dollar deposits to USDC. Ultimately, the alliance with Cointable is a bridge between traditional banking and the crypto world, with the potential to transform the way companies manage their digital finances.