Latam has a wallet that promises to be an account in dollars and Bitcoin

On May 14, 2025, the beta version of Ikigii was launched, an application that seeks to unify the management of dollars, Bitcoin (BTC) and cryptoactive on a single platform created by TowerBank, a Panamanian bank with more than 50 years of experience.

In that context, Cryptonoticias exclusively interviewed Johan Hernández, TowerBank Business Executive, who said that Ikigii “allows you to manage both your cryptocurrencies and your dollars in the same place.”

Although the Wallet created by TowerBank is for global use, for Latin America it could be an especially useful tool, given that in that region the use of cryptoactive (particularly stablecoins) has grown notoriously driven by factors such as factors such as factors such as factors such as factors such as factors such as factors such as factors such as factors such as factors The inflation of national currencies or the difficulty that states impose to make international transactions.

A financial platform that aims to “merge two worlds”

Ikigii does not occur as a simple Wallet for cryptocurrencies according to Hernández: «It is not just a crypto wallet or a traditional bank app. It is a complete financial experience that fuses both worlds into a single bank account ».

According to their official site, users will be able to use this application to buy, sell and protect cryptoactives such as Bitcoin, Ethereum (ETH), USDT and USDC (will soon add to XRP), as well as exchange them for dollars “in seconds”, without the need to transfer funds between different platforms or applications.

For operations with ETH, USDC and USDT, this application uses the ERC-20 standard and for BTC transactions the main layer of Bitcoin.

In the words of Towebank manager, Wallet Ikigii is a “unique account in dollars and crypt: you don’t have to move funds between apps or platforms and conversion is instantaneous and without friction between crypt and fíat, within the same account.”

However, the use of the ikigii platform faces a current limitation: it is available Only in Panama Application Storeswhile the bank works in its expansion to other countries. In addition, those who wish to try their beta version (from Panama) must complete a form and will be on a waiting list to download the app.

Security and custody in Ikigii

Before the question “Why would a person use a bench wallet (Ikigii) instead of storing and operating their cryptoactives from an exchange?” Hernández emphasized security: “Unlike the exchanges, where you do not have private keys and the funds are not always in your name, in Ikigii your crypto are in regulated custody, in your name and protected by your name and Fiduciary It is a safer, transparent and regulated way to operate in crypto without giving up the control of your assets ».

The custody of the cryptoactive of IKIGII users is in charge of Towertust, a regulated fiduciary that is part of the TowerBank ecosystem. As Hernández explained it, Towerrust uses a regulated custody solution in the United States, operated by a trust independent.

That means that cryptoactives are not part of the bank’s balance and, therefore, They cannot be claimed by creditors In case of financial difficulties. This approach seeks to ensure that user funds remain safe and accessible at all times.

The use of a custodian regulated in the US. UU. It suggests that Towertust follows international security standards, although the exact methods of custody are not specified, such as the type of storage (cold or hot) or encryption protocols.

On the other hand, to create an account in this TowerBank Wallet it is necessary to cross a process of “know your client” (KYC).

Motivation behind the adoption of bitcoin and cryptocurrencies

TowerBank’s incursion into the cryptocurrency ecosystem was not an impulsive decision, but an answer to needs of your own customers. Hernández says that the bank identified a growing interest among its users:

“Our customers were already interacting with cryptocurrencies, mainly through credit card purchases.”

Johan Hernández, TowerBank Business Executive.

This behavior led the institution to explore ways to integrate the cryptocurrency ecosystem with traditional finances (tradfi), working “with local regulators and our correspondent banks.”

Although TowerBank does not operate directly with cryptocurrencies, the bank has developed products that take advantage of Bitcoin’s value. For example, explained the Panamanian bank executive, that institution It offers loans supported by Bitcoina tool that allows users to obtain liquidity in dollars without selling their cryptoactives.

This type of products reflects the bank’s recognition towards Bitcoin’s potential, although Hernández clarifies that, for now, They have no plans to create a strategic reserve in BTC.

Promoting crypto adoption in Panama and beyond

The launch of Ikigii coincides with a moment of growing interest in cryptocurrencies in Panama. In mid -April, as reported by cryptootics, TowerBank announced an agreement with the mayor of Panama for Allow municipal payments with cryptoactivean initiative that Hernández sees with optimism:

“These initiatives have enormous potential to boost crypto adoption, because they represent real cases of use within traditional institutions, which have historically been away from the ecosystem.”

Johan Hernández, TowerBank Business Executive.

As well as the Wallet Ikigii, these types of projects have in potential to facilitate the daily use of Bitcoin and cryptocurrencies, promoting adoption of people who are not familiar with this technology.

In addition, the regulatory context in Panama seems to be evolving. At the end of March 2025, Cryptootics notified the presentation of a draft law to regulate cryptocurrencies in that country. Hernández considers that the greatest challenge to develop a clear regulatory framework is “to achieve a balance between the interests of all ecosystem actors.”

However, he sees this process as an opportunity for Panama to position himself as a reference in financial innovation in the region, attracting companies and promoting new business opportunities.