The road to cryptocurrency adoption in Panama is picking up pace. Towerbank, a Panamanian financial institution with more than 200 employees and 40 years of banking experience, claims to be Bitcoin (bitcoin) friendly, paving the way for crypto accounts.
In a series of tweets and leaks at a blockchain meetup in Panama’s capital, Panama City, the bank is opening the floodgates for the crypto community. At a blockchain conference hosted by the Panama Digital Chamber of Commerce and Blockchain on Thursday, representatives of Towerbank invited crypto enthusiasts to open an account with the bank.
According to reports, Towerbank VP of Product Gabriel Campa said that crypto clients will not suffer The usual “frustration” that Panamanian citizens experience when performing crypto activities in banks.
“Towerbank is crypto friendly,” shared Cristobal Pereira, executive director of the Latin America Blockchain Summit and attendee of the Towerbank and Campa conferences. He tweeted that crypto enthusiasts can “open an account without fear and withdraw money from the exchange.” payment”.
here in Panama #meetup scam @Tower Bank and declare that they are #cryptocurrency Friendly, they can come to open accounts and make deposits and withdrawals from exchanges without fear… The first bank in Latin America to publicly announce this! Worth sharing! pic.twitter.com/mVEKFfI8Uf
— Cristobal Pereira (@cristpereirag) May 26, 2022
On Saturday, Towerbank’s official Twitter account shared: “Hello, crypto community!” to corroborate rumors that Panama’s top 30 banks are making a splash for Latin America’s crypto enthusiasts. The tweet has been pinned to the profile.
hello community #cryptocurrency !
— Tower Bank (@Towerbank) May 28, 2022
According to reports, the crypto-related transactions are limited Up to $5,000 per month, and the bank does not offer direct encryption to crypto services. So far, the move is a gesture to the crypto community that digital assets below a certain amount can be used in banks without hassle.
Towerbank has since retweeted a tweet suggesting customers will be able to association Their crypto accounts, such as Binance, are deposited directly into their Towerbank bank accounts, but no official statement has been made.
Panama hits a wave in favor of cryptocurrencies, but the president announced in May Crypto bills won’t come to fruition soon.For some commentators, the bank’s move to support cryptocurrencies is more than a means destroy Cryptocurrency has a bad reputation, but it also diversifies its customer base, expanding into the money-oriented cryptocurrency community.
Finally, when the Twitter account retweeted the meme created by bitcoiner Aldo Antinori, the bank returned its bitcoin certificate. In the tweet, Towerbank’s flagship building in Panama City’s financial district wears bitcoin laser eyes.
Great Aldo!it puts you on another level https://t.co/U0waaZtOd4
— Tower Bank (@Towerbank) May 27, 2022
Cointelegraph has reached out to Towerbank for comment and will update the article as soon as possible.