- An entrepreneur shaped by traditional banking and blockchain reveals his vision and explains his latest launch.
- We interviewed Christian Knudsen, Co-Founder & President of the Colombian fintech Littio.
- The fintech allows Colombians to receive transfers in dollars: salaries, remittances, and direct payments from the United States.
In a significant step towards democratizing access to innovative and secure financial services, Littio has introduced its latest product: the US Bank Account.
This new offering allows Colombians to connect with the US banking network in less than 10 minutes, opening a world of possibilities for managing their finances in dollars and creating new cross-border financial opportunities.
The Vision of Littio
Christian Knudsen is the CEO of Littio. He has a background in Business Administration and has always been a natural entrepreneur. After leading growth at Scotiabank and exploring the blockchain world at Valiu, he identified a market need and founded his own company.
In a conversation with Frecuencia Money, he explained the features of the new launch.
Frecuencia Money: What led you to start your fintech?
Christian Knudsen: I identified a market need: protecting the value of money against devaluation. That led me to found Littio with my three partners.
Frecuencia Money: How would you summarize the value proposition of your company?
Christian Knudsen: Our value proposition centers on connecting Latin American users with the global financial system, allowing them to manage and maximize their resources in various currencies like dollars and euros. We offer access to accounts in the United States and, soon, in Europe, facilitating international transactions, savings, and global payments without traditional barriers.
Frecuencia Money: In which countries, besides Colombia, is the app operating?
Christian Knudsen: Currently, Littio operates primarily in Colombia, but we are in the process of expanding our services to include other Latin American economies, connecting them with more stable financial markets like those in the United States and Europe.
Frecuencia Money: Are you envisioning other services or products in the future?
Christian Knudsen: Right now, we are focused on the “frictionless adoption” of our product and connecting our users with stronger economies. This includes expanding our offerings to include accounts that not only handle transfers from the United States but also allow receiving funds from anywhere in the world, as well as offering accounts with IBANs in Europe. Our goal is to enable anyone in emerging economies to manage their finances in dollars effectively and securely.
Frecuencia Money: How do you see the fintech landscape in Latin America?
Christian Knudsen: The regional fintech landscape is extremely promising. Despite being a small market globally, the region presents an immense opportunity due to deficiencies in traditional banking services. With the regulation of Open Finance, progress in cryptocurrencies, and the rapid adoption of fintech solutions by innovative startups, we are witnessing a transformation of the financial sector that opens doors to numerous growth opportunities and improvements in financial services for all.
Direct Access to the US Banking Network
In partnership with Bridge Ventures, Inc. and under the supervision of the Superintendency of Companies, Littio’s US Bank Account provides users with a checking account number and a unique routing number.
With this information, Colombians can receive dollar transfers, such as salaries, remittances, and payments directly from the United States to their Littio account. Funds can be kept in dollars or converted to Colombian pesos in seconds.
Competitive Fees and Simple Account Opening Process
Littio’s US Bank Account stands out for its competitive fees. Sending and receiving transfers from the United States costs $2.99 USD per transaction, making it one of the most affordable options on the market.
Opening the account is a quick and straightforward process that can be completed in less than 10 minutes. Users simply need to download the Littio app from the App Store or Play Store, create an account, and make an initial deposit.
About Littio
Founded in 2021, Littio is a Colombian fintech that offers innovative digital financial solutions to over 250,000 users. The company is known for its Multicurrency Account, which allows easy exchange between USD, EUR, COP, and MXN, and its Littio Card, a global Mastercard with no management fee that offers payments and withdrawals in any currency at a 1:1 exchange rate with no additional fees.
With more than 1 million transactions made abroad and a transaction volume exceeding 50 million USD, Littio is transforming the Colombian financial landscape by providing financial inclusion and giving users the freedom and security to manage their capital efficiently.