Title: Avalanche Replaces Ethereum as LatAM Bank Littio’s Choice for Growing RWA Vault Needs
Littio, a neobank in Latin America, is making it easier for users in the region to gain exposure to U.S. Treasury bills by switching its blockchain networks. The Colombian neobank has migrated from Ethereum (ETH) to Avalanche (AVAX), and this change was made in response to growing demand for its Yield Pots product, which allows users to earn interest on USD deposits.
This move reflects a strategic decision by Littio to handle higher demand and scalability, showcasing Avalanche’s growing influence in the fintech space. Avalanche’s technology is enabling financial access for underbanked populations, highlighting the potential for blockchain technologies to transform traditional banking landscapes.
Littio’s switch to Avalanche underscores the platform’s broader strategy and its $50 million real-world asset (RWA) program, aimed at incentivizing the development of RWAs on its network. Littio’s adoption of Avalanche signals a significant victory for the platform and contributes to its expanding ecosystem of real-world asset integration.
Littio’s partnership with OpenTrade, a London-based company specializing in yield-bearing products that utilize stablecoins like USDC and real-world assets like US Treasury bills, is driving the growth in Littio’s Yield Pots. The demand for these products has been fueled by the depreciation of Latin American currencies. Neobanks, centralized exchanges, and payment companies are expected to be additional clients using USDC in the region.
Ava Labs’ Morgan Krupetsky emphasized Avalanche’s role in granting financial access to underbanked populations with its technology. Littio and OpenTrade exemplify this potential, offering compelling products to populations that would otherwise be unable to access or utilize them through traditional financial channels. As of writing, Avalanche (AVAX) is trading at $26.07, with a drop of 1.82% in the past day and an increase of 2.31% in the past week.
Source: [https://www.crypto-news-flash.com/avalanche-replaces-ethereum-as-latam-bank-littios-choice-for-growing-rwa-vault-needs/?utm_source=rss&utm_medium=rss&utm_campaign=avalanche-replaces-ethereum-as-latam-bank-littios-choice-for-growing-rwa-vault-needs](https://www.crypto-news-flash.com/avalanche-replaces-ethereum-as-latam-bank-littios-choice-for-growing-rwa-vault-needs/?utm_source=rss&utm_medium=rss&utm_campaign=avalanche-replaces-ethereum-as-latam-bank-littios-choice-for-growing-rwa-vault-needs)