At Banco de Crédito Del Perú (BCP), employees paid coffee in the cafeteria using internal tokens, gifts issued with polygons, during controlled testing conducted in a limited operational environment and without economic risk for users.
Based on a survey of approximately 300 payment providers and banks, data collected by Fireblocks (State of Stablecoins, State of Stablecoins in May 2025) shows that 48% of respondents show near-real settlements as the main advantage of token-based flows. 33% report improvements in liquidity and integration processes.
Analysts at BIS Innovation Hub note that pilot projects like Mbridge have demonstrated significant cuts at the time of payment for cross-border payments. These numbers help contextualize BCP pilots, but banks have yet to disclose operational metrics in their tests.
Fact: First Tokenized Payment at BCP Head Office
In the summer of 2025 (no exact dates are disclosed), BCP conducted actual transactions in a limited operating environment. Payment via checkout via QR code, wallet installed on the user’s device, credit for internal bank token gifts, and complete the operation after a few seconds. In this context, flows remain familiar to the user, with on-chain components being managed in the background. The custody and integrated infrastructure were handled by Fireblocks.
“This is a first for Peru and a helpful step in rethinking the service model,” said Lenin Carillo, head of Blockchain & Crypto at BCP, who was on the sidelines of the experiment.
Important facts
- token: Gift (non-transferable, non-trading)
- network:Polygon (POS)
- scenario: Buy it at your company cafeteria with QR
- Storage/Backend: Fireblocks
- User risk: None (Funds and Fees simulated by the Bank)
What we know and what we lack
- Available data: The network used, the nature of the token (closed), user processes, and the role of the fireblock.
- Private data: Exact date of test, number of participants, usability metrics (success rate, average time, error), and actual fees. Currently there are no official BCP statements in these details.
How it works (step-by-step)
- install: Employees download compatible wallets.
- credit: The bank sends internal token gifts to the wallet.
- Check out: At checkout, the user will scan the QR code.
- sign: The wallet signs transactions for the polygon.
- confirmation: Payments can be completed in seconds, but the on-chain complexity remains hidden from users.
Why it matters: Towards remittances and cross-border payments
BCP exceeds internal use. In fact, adoption of bank tokens in public infrastructure can help reduce friction and payment times compared to traditional circuits, allowing for scenarios for remittances and cross-border payments to be opened.
Expected Benefits (if scaled)
- Fastest settlement: From day to near time in compatible scenarios (48% of respondents in the survey cited identifies payment speed as a major advantage).
- Low cost About Micropay and Repetitive Remittances.
- Traceability Native audit thanks to ledger.
- Integration It features a compliance tool and KYC/AML controls.
Pilot Limitations and Design Choice
That said, this test is designed to isolate any risk. Gift tokens cannot be transferred or traded, avoiding volatility and key management by inexperienced users. Integration of Fireblocks management supervision and backend. The FireBlocks report, published in May 2025, highlights how Stablecoins and regulated tokens are on the agenda of banks and payment providers to improve payment times and liquidity flows.
Regulation: What you need to do to transition from pilot to production
The Peruvian regulatory context is evolving. It should be noted that large-scale adoption relies on clear rules regarding digital assets, consumer protection and KYC/AML requirements. Looking ahead, global references such as the FATF “travel rules” for virtual asset transfers, the BIS project for cross-border payments based on DLT (e.g., highlighted in Mbridge, BIS Innovation Hub), and the EU MICA regulations currently under discussion are also important. BCP states its intention to optimally prepare to comply with future compliance requirements related to digital asset-based products.
Context: Sector experiments
Similar projects are underway in Europe and elsewhere, using polygons and custody providers such as Fireblocks to see their mature technical trajectories. In this context, some industry reports say that BCP experimented with the trading capabilities of selected user groups and crypto assets during a period called “Spring 2025”, but official details and public confirmations from the bank are lacking.
Practical Impact: What truly changes
This “first” shows that banks issue and manage closed tokens for internal use cases, hiding the complexity of on-chain and allowing for evaluation of ease of use. However, the next challenge is extending your applications to interoperable scenarios. Perhaps it’s the integration of regulated stubcoins or transferable tokens without compromising security or control.
