- Santander is ready to expand its services in the crypto trading sector.
- In May 2022, Nubank of brazil added a feature of crypto trading for its users.
As per Local media source Folha de S. Paulo. the Subsidiary of Spanish Santander Banco Santander S.A is preparing a roadmap for launching crypto trading for its user and clients.
While talking to the local media CEO of Santander Brazil, Mario Leão, mentioned that the bank will come up with more information on the launch of the cryptocurrency trade in the upcoming few months or around the publication of the next quarterly results.
Further extending views, Leão said, ” We recognize that it is a market that is here to stay, and it is not necessarily a reaction to competitors positioning themselves; it is simply a vision that our client has demand for this type of asset, so we have to find the most correct and most educational way to do it.”
Reports of Santander’s Brazilian Subsidiary state that a firm is planning to use Blockchain technology to tokenize the traditional financing sector, including assets, security, and debt issued by firms, with the motive of making these assets easily accessible to a wider audience.
According to local media sources, in May 2022, one of the largest banks in Brazil, Nubank, started offering to trade Bitcoin and Ethereum to their users.
At the beginning of this week, Nubank made its statement and informed the masses and media that the bank had added 1 million users to its crypto trading platform.
According to the reports of local media of brazil on 14 July 2022
Itaú is a top-listed financial firm in brazil and has also announced the launch of its own digital tokens known as Itaú Digital Assets.
As it is seen that in the last few years, many traditional banks and other traditional sectors are showing their keen interest in Blockchain technology and in cryptocurrencies. This massive adoption of Blockchain mechanisms and cryptocurrencies can lead this industry to the next level in upcoming times.
Source: https://www.thecoinrepublic.com/2022/07/30/brazils-financial-giant-santander-announced-the-launch-of-crypto-trading-services/