Towerbank becomes the first bank in Latin America to declare itself ‘Crypto Friendly’

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

According to a recent report by Cointelegraph, Towerbank, one of Panama’s top 30 financial institutions with over 200 employees, is taking steps to be part of the crypto community and doing everything it can to meet its needs.

At a blockchain meeting in Panama City on May 26, attendees learned that crypto enthusiasts finally have a bank ready to meet their needs, like being able to send/receive funds to/from crypto exchanges without fear, in such a way that they don’t need to feel like criminals for investing in crypto.

Gabriel Campa, Vice President of Product Design at Towerbank, told Cointelegraph:

We want to be part of the community and build together a platform of services, to satisfy the opportunities arising from their current needs, pains and priorities. Over the next 90 days, as we build the required infrastructure, we will add additional services to our “crypto-enabled account”.




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

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

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

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The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading crypto-assets involves the risk of financial loss.

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Featured image by “geralt” via Pixabay.com

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