Colombian Banking Conglomerate Launches Lulo X

Published 7 months ago

Colombian banking conglomerate, Gilinski Group, has officially announced the beta phase of their new project, Lulo X. The project was initiated by the founders of the business group, Jaime Gilinski and his son Benjamin Gilinski.

Lulo X’s Purpose

Lulo X aims to offer users the chance to invest and store their money in USD Coin (USDC), a type of stablecoin. By doing so, it allows clients to diversify their investments.

Impact on Colombians

In Colombia, USDC has proven beneficial in assisting Colombians to save and invest in dollar-denominated accounts. This is particularly critical given the inflation and exchange rate fluctuations impacting the Colombian peso.

Leadership Changes

In related news, Natalia Jiménez, previously the Chief Product Officer of Lulo Bank, has been appointed as the CEO of Lulo X. Furthermore, it is expected that Lulo Bank will commence its trading operations involving USDC at the end of October.