Crypto

Bitcoin Gaining Momentum in Brazil – Banking Giant Santander Launches Crypto Service

Bitcoin in banks. The countries of South America, exhausted by inflation, exhausted by their proximity to the United States and their treasured dollars, saw cryptocurrencies as a way of salvation. As evidence, 51% of them confirm the existence of a crypto account. Santander, the Brazilian banking giant, intends to take advantage of this enthusiasm to develop its services and offer the purchase of Bitcoin and other cryptocurrencies.

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Bitcoin: “a market that will remain forever”

Santander, a Spanish banking giant with an international reach based in Brazil, announces the launch of cryptocurrency trading through its banking services.

The banking giant even confirmed in the voice of Mario Leo, CEO of Santander, proof of the opportunities and potential that Bitcoin and cryptocurrencies could bring:

“We understand that this market is not going anywhere, and this is not necessarily a reaction to the emergence of competitors. It’s just a vision that our client has a demand for this type of asset, so we have to find the most correct and educational way to do it. »

This move into the bitcoin world seems like a start, faced with the need to educate its customers, the bank will subsequently develop other cryptographic services. More details will be provided in mid-October when the company reports its balance sheet.

However, Santander is not new to the blockchain business in South America. The multinational corporation has already offered Argentine farmers to tokenize their products to help them fight inflation. This idea, implemented in partnership with Agrotoken, an Argentine tokenization platform, has generated great enthusiasm. For its part, despite delaying regulation somewhat, Brazil intends to take care of Bitcoin by reserving an account for it.

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