Banco de Crédito del Perú (BCP) has discontinued its “Cocos y Lucas” platform, which offered differentiated exchange rates, effective February 28, 2026.
The move is part of a strategic realignment in how the bank provides foreign exchange services within its digital ecosystem, according to a report from the Central Reserve Bank of Peru (BCRP). This decision reflects a broader trend in the financial sector toward integrating currency exchange into mainstream digital banking platforms.
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Instead of maintaining a standalone application, BCP will integrate the currency exchange service into its widely used digital channels, including mobile banking and its digital wallet.
The BCRP stated that the goal is to streamline the user experience, consolidate services onto fewer platforms, and optimize the use of technological resources. The move aims to simplify access to foreign exchange for customers and reduce operational costs for the bank.
“Having a platform exclusively for buying and selling dollars without any tools that add value implies duplicating costs for the entity,” the central bank explained.
Cocos y lucas era la plataforma de cambio de moneda del BCP.
The BCRP also noted that this move aligns with a broader trend in the financial system, where online currency exchange has become a standard feature within financial applications.
With this integration, the bank aims to provide customers with more direct access to the service within the platforms they use most frequently. According to the central bank, banks have significantly invested in their applications in recent years, incorporating increasingly more operations such as currency exchange, remittance services, and bill payments.
“It is more practical for users to carry out all these operations from a single location,” the BCRP added.
As of the end of 2024, Peru had 237 fintech companies, including 60 specializing in payments and transfers, 54 in lending, and 27 in currency exchange.
Digital currency exchange platforms gained prominence in the years leading up to the pandemic, offering a legal and competitive way to exchange foreign currency. Specialists note that traditional banking transaction costs were high, and informal exchange services were often considered less secure.
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