Santander Brasil Will Soon Offer Cryptocurrency Trading Services

The Brazilian arm of Spain's largest commercial bank, Banco Santander, has announced that it will offer cryptocurrency trading services in Brazil. Santander Brasil CEO Mario LEAO said the service will go live in the coming months in an interview on July 28.

The service will also be available to retail investors, which is different from some other banks that only offered cryptocurrency trading to institutional or professional investors. The bank will offer blockchain-based ETFs and is also launching a program called the Santander X Global Challenge, which aims to find promising startups.

The largest bank in the country, Nubank, added bitcoin and ethereum trading to users. The Brazilian Senate has approved a bill to regulate cryptocurrencies, paving the way for innovation. By the end of the second quarter of 2022, Nubank plans to expand the service to more countries in Latin America.

Image: The Guardian