CandleFocus

Why This Colombian Neobank is Switching From Ethereum to Avalanche

Author: Content Editor
Colombian neobank Littio has decided to switch from Ethereum to Avalanche in order to provide customers with a cheaper way to hedge against the country's struggling peso. By leveraging its partnership with OpenTrade, Littio aims to take advantage of the company's yield-bearing savings solution. The transition will involve moving holdings from Ethereum to Avalanche, which offers lower transaction fees and features like scalability, sub-second transaction finality, and compatibility with Ethereum Virtual Machine. Littio allows customers to save in dollars due to the devaluation of the local currency, and it currently enables the conversion of pesos into USD Coin (USDC). This move to Avalanche aligns with the growing interest from Wall Street, as investment firm Franklin Templeton recently made its OnChain U.S. Government Money Fund available on the Avalanche network due to its low transaction costs.

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