Financial innovation: 3 trends that will revolutionize the economy



The transformation of the financial system has been accelerating year after year. The new technologies, blockchain and web3, among others, caused structural changes in traditional entities such as banks and governments, and in turn allowed the emergence of new companies capable of providing solutions for the new challenges presented by the markets and the new generations of consumers.

In this sense, Koibanx, a company that is celebrating 8 years offering solutions based on blockchain technology and asset tokenization for the financial system in Latam, accounts for this evolution and growth: today it accounts for more than 1 trillion dollars  of tokenized assets in different Blockchain protocols  and collaborates with important entities such as  Banco de Valores, RUS  and  Banco Macro  in Argentina, among others.

The market and finance have evolved, blockchain technology is in a stage of maturation in which the players in the financial sector are embarking on understanding how they can innovate with these solutions, now the time for collaboration has arrived and it is beginning to be noticed the integration of the best of both worlds with banks and technology companies operating under the guarantees of the regulatory framework. It is time to understand the potential of uniting traditional finance with innovation. This is the path that will make it possible to really boost the economy and generate greater financial inclusion.” , says Leo Elduayen, CEO and Cofounder.

Web3 technology evolves to financial services, eliminating borders, reducing friction, increasing transparency, generating automation via programmability and this is where we really see that a financial system that enjoys these benefits and virtues can increase financial inclusion. Through our platform, clients offer innovative, more efficient financial products and/or web3 capabilities to their end users, which amount to between 10 and 20 million depending on the activity they present ”.

Thus, it is expected that technology together with blockchain developments will change the experience of people in their financial transactions:


1- Interoperability:  interoperability in payment rails or transactional rails is something that, also pushed by Open Finance regulations, is gaining more and more weight. Mexico was a pioneer on this topic, Argentina followed. We see that Colombia and El Salvador began to do so as well. There is a growing trend where we will see money and account balances become interoperable between financial institutions and among its products.

2- Tokenization of the real economy. The economy will become more dynamic and investments and transactions will be diversified thanks to the possibilities already offered by the tokenization of goods and services such as real estate, works of art, commodities, energy, etc. In addition, this reduces costs and increases the efficiency of transactions, which will facilitate the commercialization of illiquid assets and access to larger investors. The concept of “programmed money” will be used frequently. One possible use, for example, would be tokenizing the rent of a property through a smart contract or paying in a store through a QR code with a percentage of a token that a user of a commodity such as soybeans has.

3- Crypto acceptance + multiple payment channels:  Initially, the card was the payment or  value transfer channel par excellence, today it is being complemented and made compatible with account-to-account transfers, from chatbots, a mobile or web app. Wallets began to shape it, but it has even evolved into contactless payments or QR payments. We are going to see multiple channels to access our balances, be it money or investments that we will be able to transact through interoperable rails and making them compatible with the crypto world. 

An example of this is one of its most recent developments: n1u, a digital wallet for the young segment, focused on gamers.

This wallet offers all kinds of products for users, from cash in and cash out of money, transfers and payment solutions such as QR, purchase and sale of cryptocurrencies, cell phone recharges and even hiring streaming services.


In a changing market for fintechs and technological entrepreneurs within the crypto and blockchain ecosystem, Koibanx positioned itself as a leading company in the country through 3 rounds of financing, in the most recent one it raised almost 20 million dollars. Also, the size of the company grew to almost 80 employees with offices in 4 countries.

“Our vision is to transform the region’s financial system by launching and integrating our platform in the most relevant financial institutions in the region. Latin America has more than 10,000 financial institutions, our goal is to reach at least 1% of them.” Elduayen pointed out.

The company has a presence in Argentina, Colombia, El Salvador, Uruguay and Mexico with a view to expanding to the rest of Central America, focused on enabling the tokenization of financial assets. It also plans to gradually open up its APIs in late 2023/early 2024, to allow easy tokenization for all developers without having to acquire web3 development skills.

 Along with these achievements are added:

●       Tokenization of 6 different types of assets: commodities, financial titles, fiat currencies, cryptocurrencies, securities and documents.

●       Integration of 7 different Blockchain protocols (Algorand, Ethereum, RSK, Bitcoin, Lightning Network, Hyperledger, Polygon).

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