Brazilian clients of Santander Bank will have access to a platform for transactions with digital currencies.
According to Folha de S Paulo, the service will be launched in the coming months. In the future, the financial giant is ready to expand the geography of using its cryptocurrency platform.
Santander's press service promises to give more exact dates in early autumn after the publication of financial statements and an updated document describing the corporation's long-term business strategy.
The press center of the bank emphasized:
We recognize that the cryptocurrency market is here to stay and there is a demand among our clients for this type of asset, so we have to satisfy it. Bank Santander has a strong presence in Latin America. In March, he launched lending to Argentine farmers using tokenized commodities as collateral. The financial giant is implementing this project in partnership with the Agrotoken blockchain platform.
One of the key partners of the Spanish bank in the development of blockchain services is the crypto company Ripple. The financial giant has been investing in it since 2015.