Colombia is moving further into the digital financial era as AFP Protección, the country’s second-largest private pension fund, announced plans to launch an investment product with exposure to Bitcoin.
The president of Protección SA, Juan David Correa, explained that access to the fund will be limited to qualified investors only, through a personal advisory process to assess risk tolerance levels.
The move makes Protección the second pension fund manager in Colombia to offer Bitcoin exposure, after Skandia introduced a similar initiative in September last year.
It reflects the growing, albeit cautious, interest of financial institutions in digital assets.
However, Protección insists that the pension fund’s investment core has not changed.
Bonds, stocks and traditional assets remain the main components of Colombians’ retirement savings.
The Bitcoin-linked fund is just an add-on product for certain investors.
At the same time, Colombia has also introduced mandatory crypto reporting regulations, signaling the country’s increasingly serious but cautious approach to the crypto industry.
