This article is from es.cointelegraph.com and the original article can be read here
Panama’s path towards cryptocurrency adoption has taken a step forward. Towerbank, a Panamanian financial institution with more than 200 employees and 40 years of banking experience, has declared itself in favor of Bitcoin (BTC), paving the way for cryptocurrency accounts.
In a series of tweets and leaks from a blockchain meeting in the Panamanian capital, Panama City, the bank announced that it is opening the doors to the crypto community. During the meeting organized by the Chamber of Digital Commerce and Blockchain of Panama last Thursday, Towerbank representatives invited cryptocurrency enthusiasts to open accounts at the bank.
Apparently, Gabriel Campa, Vice President of Product at Towerbank, shared that cryptocurrency customers do not they would suffer the “setbacks” that Panamanian citizens would normally be subject to when carrying out cryptocurrency activities at the bank.
Christopher Pereira, Executive Director of Blockchain Summit LatAm and attendee at the meetup with Towerbank and Campa, shared: “Towerbank is crypto-friendly.” In a tweet, he stated that crypto enthusiasts can “come open accounts and deposit withdrawals from exchanges without fear.”
Here in Panama in #meetup with @towerbank and announce that they are #crypto friendly, and they can come to open accounts and deposit withdrawals from exchanges without fear… the first bank in Latam to publicly announce this! Worth sharing! pic.twitter.com/mVEKFfI8Uf
– Cristobal Pereira (@cristpereirag) May 26, 2022
On Saturday, the official Towerbank Twitter account shared: “Hello crypto community!” to confirm rumors that the Panamanian bank had targeted crypto enthusiasts in Latin America. The tweet has since been pinned to the profile.
hello community #crypto !
— Towerbank (@Towerbank) May 28, 2022
Cryptocurrency-related transactions are reportedly limited to a maximum of USD 5,000 per month and the bank does not offer direct cryptocurrency services. To date, the move is a gesture to the cryptocurrency community that digital assets below a certain amount can be used at the bank without hindrance.
Towerbank has since retweeted tweets suggesting that customers will be able to link your cryptocurrency exchange accounts, such as Binance, directly to your Towerbank bank accounts, but no official statement has been made.
In Panama, a feeling has been awakened in favor of cryptocurrencies, but the president announced in May that a bill on cryptocurrencies won’t come soon. For some commentators, the bank’s pro-crypto movement is not just a means to undermine the bad reputation that cryptocurrencies have, but also to diversify their customer base, expanding the money-oriented crypto community.
Lastly, the bank has proven its bitcoiner credentials when the Twitter account retweeted a meme created by the user, Aldo Antinori. In the tweet, the main headquarters of Towerbank, located in the financial district of Panama City, bears the popular laser eyes used by Bitcoin enthusiasts on social networks.
Great Aldo! It left you on another level https://t.co/U0waaZtOd4
— Towerbank (@Towerbank) May 27, 2022
Cointelegraph has contacted Towerbank for comment; and will update this article as soon as possible.
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