Santander Bank to Offer Brazilians Cryptocurrency Trading

Santander's Brazilian branch will open up the possibility of digital trading for clients "in the coming months".assets. This was stated in an interview with Folha de S. Paulo by its CEO Mario Liav.

The top manager promised to provide additional details after the publication of the next quarterly report or earlier.

“The [cryptocurrency] market will stay here forever.This is not necessarily a reaction to the steps of competitors. […] Our client requested this type of asset, so we must find the most appropriate way […] to do it.”- he explained.

July 14, the country's largest bank Itau UnibancoHolding did not rule out the possibility of buying/selling digital assets for retail clients in the future. At the first stage, the institution will offer tokenization services for companies.   

Earlier, Brazil's largest neobank, Nubank, announced a partnership with Paxos. Thanks to the cooperation, 50 million of its customers gained access to cryptocurrencies.

In August 2021, the head of the Bank of Brazil, Roberto Campos Neto, spoke in favor of creating a regulatory framework for the industry.

The country became the second in the world to register a bitcoin ETF.

Recall that in March 2022, Santander launched a lending program for local farmers in Argentina based on tokenized agricultural commodities.

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