the internal token “GIFT” on Polygon debuts in a risk-free pilot
At Banco de Crédito del Perú (BCP), an worker paid for a espresso within the cafeteria utilizing an inner token, GIFT, issued on Polygon, throughout a managed check carried out in a restricted operational surroundings and free of economic danger for customers.
In accordance with knowledge collected by Fireblocks (State of Stablecoins, Could 2025), based mostly on a survey of roughly 300 cost suppliers and banks, 48% of respondents point out near-real-time settlement as the principle benefit of token-based flows; 33% report enhancements in liquidity and built-in processes.
Analysts from the BIS Innovation Hub observe that pilot tasks like mBridge have demonstrated vital reductions in settlement occasions for cross-border funds. These numbers assist to contextualize the BCP pilot, though the financial institution has not but printed operational metrics on the check.
The Truth: First Tokenized Fee at BCP Headquarters
In the course of the summer season of 2025 (precise date not disclosed), BCP carried out an actual transaction in a restricted operational surroundings: cost on the checkout by way of QR code, pockets put in on the consumer’s gadget, crediting of the inner financial institution token GIFT, and completion of the operation in a number of seconds. On this context, the movement stays acquainted to the consumer, with the on-chain part managed within the background. The custody and integration infrastructure was dealt with by Fireblocks.
“It is a first for Peru and a step that helps us rethink service fashions,” mentioned Lenin Carrillo, Head of Blockchain & Crypto at BCP, on the sidelines of the experiment.
Key details
- Token: GIFT (non-transferable, non-tradable)
- Community: Polygon (PoS)
- Situation: buy in firm cafeteria with QR
- Custody/backend: Fireblocks
- Consumer danger: none (funds and charges simulated by the financial institution)
What we all know and what’s lacking
- Accessible knowledge: community used, nature of the token (closed), consumer course of, and position of Fireblocks.
- Undisclosed Knowledge: precise date of the check, variety of individuals, usability metrics (success fee, common occasions, errors), and precise charges. At present, there isn’t a official BCP assertion with these particulars.
The way it works (step-by-step)
- Set up: the worker downloads a appropriate pockets.
- Credit score: the financial institution sends the inner token GIFT to the pockets.
- Checkout: on the checkout, the consumer scans the QR code.
- Signature: the pockets indicators the transaction on Polygon.
- Affirmation: the cost is accomplished in a number of seconds, whereas the on-chain complexities stay hidden from the consumer.
Why it issues: in the direction of remittances and cross-border funds
BCP seems to be past inner use. The truth is, the adoption of a banking token on public infrastructures can open situations for remittances and cross-border funds, as tokenization helps scale back friction and settlement occasions in comparison with conventional circuits.
Anticipated Advantages (if scaled)
- Sooner settlement: from days to near-real-time in appropriate situations (48% of respondents within the cited research determine settlement pace as the principle benefit).
- Decrease prices on micro-payments and repetitive remittances.
- Traceability and native audit because of the ledger.
- Integration with compliance instruments and KYC/AML controls.
Limits and design selections of the pilot
That mentioned, the check was designed to isolate each danger: the GIFT token is neither transferable nor tradable, avoiding publicity to volatility and the administration of keys by inexperienced customers. Fireblocks managed custody and backend integration. The Fireblocks report, printed in Could 2025, highlights how stablecoins and controlled tokens are coming into the agenda of banks and cost suppliers to enhance settlement occasions and liquidity flows.
Regulation: What It Takes to Transfer from Pilot to Manufacturing
The Peruvian regulatory context is evolving. It must be famous that large-scale adoption will depend upon clear guidelines relating to the custody of digital property, client safety, and KYC/AML necessities. Trying forward, world references such because the FATF “Journey Rule” for digital asset transfers, BIS tasks for cross-border funds based mostly on DLT (e.g., mBridge, as highlighted by the BIS Innovation Hub), and the EU MiCA regulation, at the moment underneath dialogue, additionally matter. BCP has said its intention to finest put together to adjust to future compliance necessities associated to digital asset-based merchandise.
Context: experiments within the sector
Related tasks are underway in Europe and different areas, with the usage of Polygon and custody suppliers like Fireblocks, confirming a mature technological trajectory. On this context, in line with some trade press stories, BCP is claimed to have experimented with buying and selling functionalities on crypto property with a choose group of customers throughout a interval known as “spring 2025” – nonetheless, official particulars and public affirmation from the financial institution are missing.
Sensible Influence: What Actually Modifications
This “first” demonstrates {that a} financial institution can subject and handle a closed token for inner use circumstances, hiding the on-chain complexity and permitting an evaluation of usability. But, the subsequent problem might be to increase the appliance to interoperable situations, maybe integrating regulated stablecoins or transferable tokens with out compromising safety and controls.
