LABFin promotes fintechs in Panama and plans expansion in Latin America

LABFin was established in Panama, a strategic point to expand services to Central and South America.

Until a few years ago, Panama’s public and private sector did not have anyone to advise them about digital finance services. Charles Gonzales noted this shortcoming and devised LABFin (Latin America Blockchain and Fintech Initiative), a nonprofit organization that now plans to expand into Central and South America.

“LABFin is a coalition of companies and projects that work in the fintech and blockchain sector,” explains Gonzales for Cointelegraph.

Gonzales is also CEO of ChainZilla. “ChainZilla is our corporate division, and LABFin is our nonprofit division. Both entities complement each other since ChainZilla is a technology provider for many projects in the blockchain sector, “explained the entrepreneur.

LABFin was established in Panama, a strategic point to expand services to Central and South America. “We currently have members in Panama, Colombia, Argentina, Brazil, and even in Europe,” said Gonzales. “We have expansion plans, and we invite any company that wants to support our goals to join the group.”

Through presentations, workshops, and events, LABFin aims to raise awareness about new technologies. “The goal is to be able to integrate 20 of the companies with the most influence in Panama to our coalition” detailed Gonzales.

Approach with CAPATEC

LABFin has signed an agreement with the Panamanian Chamber of Information Technology, Innovation and Telecommunications (CAPATEC). This is an initiative that brings together companies from various sectors, including fintech and now blockchain.

“Being members of this organization allows us to extend our voice to encourage the integration of fintech and blockchain,” said Gonzales.

On the other hand, Gonzales remarked: “We have been to two events in Panama this year, and we are in the process of coordinating other workshops. Our project (ChainZilla) was chosen among the top five startups in Panama, and we also made a presentation at CyberTech LATAM. In the last three months, we have had a lot of movement. “

Goals and opportunities

For this year, they aim to add a minimum of 20 sponsoring companies to the foundation and five blockchain projects. “We have had eight applications in two months,” said the director of LABFin.