Santander bank will offer trading of Bitcoin and other cryptos to its clients in Brazil


Santander Brazil (SANB11) is looking for a way to launch the trading of Bitcoin Y other cryptocurrencies for its clients, confirmed the CEO Mário Leão in an interview last Thursday (28). The novelty would place the operation of the great bank as one more to arrive in the space between the great financial entities of the country.

This is because its main competitor, Itaú, has already launched a special division of digital assets and is starting in the sector with tokenization products. However, the largest bank in Latin America has already made it clear that it intends to launch cryptocurrency trading for its clients in the near future.

In this way, it is clear that banking institutions are now coming into the space, after years of criticizing the technology. It should be remembered that no bank has yet confirmed the possibility of facilitating cryptocurrency paymentsjust freeing up investment options for clients.

Santander Brazil wants to launch cryptocurrency trading this year

In the final stretch of 2022, several institutions are seeing how to close the year by presenting news to their clients and maintaining their increasingly loyal base.

And in the case of Santander Brazil, one of the options would be to launch a cryptocurrency trade, even for individual clients.

The information was confirmed by the executive president Mário Leão in an interview with Folha de São Paulo, where he commented that the bank’s client portfolio is interested in this sector.

In this way, heSantander’s entry into the cryptocurrency market is a bid to meet customer demand. He said more news about the initiative may be shared in the next quarterly report to his investors in October.

However, he does not rule out that news will reach the public before that, indicating that the operation is already underway.

Santander Brasil (SANB11) is looking for a way to launch cryptocurrency trading for its clients, the CEO confirmed.

“It is a market that is here to stay and we are not only reacting to competitors, but we have a demand for cryptocurrencies from customers and we must launch it in the most educational way possible.”

Santander used a decentralized metaverse in a recent event

At a recent event, Santander used a cryptocurrency metaverse to welcome Brazilian startups looking for innovative solutions. This action demonstrates that the bank is watching and testing the technology on several fronts.

In Brazil, in addition to Santander and Itaú, Nubank launched its operation in the cryptocurrency market, as well as Mercado Pago, which in recent days has come to be considered a digital bank in Brazil. BTG Pactual itself launched its Mynt exchange earlier this week, and the domestic market awaits the arrival of XP Investimentos in the sector.

In this way, it is clear that several banks are positioning themselves in cryptocurrencies, an adoption movement that continues to occur rapidly in recent months.

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