Towerbank Becomes First Bank in Latin America to Declare Itself ‘Crypto Friendly’

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Panamanian bank Towerbank is preparing to meet the needs of the crypto community. 

According to a recent report by Cointelegraph, Towerbank, a top 30 Panamanian financial institution with over 200 employees, is making moves to become part of the crypto community and do everything it can to meet its needs.

At a blockchain meetup in Panama City on May 26, the attendees were told that crypto enthusiasts finally had a bank that was ready to meet their needs, such as being able to send/receive funds to/from crypto exchanges without fear, in such a way that they would not need to feel like criminals for investing in crypto.

Gabriel Campa, who is the Vice President for Product Design at Towerbank, told Cointelegraph:

We want to become part of the community and build a service platform together, to satisfy the opportunities arising from their current needs, pains, and priorities. Within the next 90 days, as we implement the required infrastructure, we will be adding additional services to our ‘crypto friendly account.’

On June 2, the bank sent out the following tweet, in which it says that their new crypto friendly account allows customers to make deposits from the sale of their crypto and to make payments for the purchase of crypto.

On June 4, Towerbank released the following video in which Campa provides more details about the crypto friendly account:

Cointelegraph’s report also mentioned that crypto-related transactions at Towerbank are limited to $5,000 per month and that the bank is not offering direct crypto to crypto services at this time. 

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Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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Featured Image by “geralt” via Pixabay.com



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