One Of Panama’s Largest Banks Just Became Bitcoin-Friendly

Cristobal Pereira of the Latam Blockchain Summit announced that one of Panama’s largest banks, Towerbank, has become Bitcoin-friendly.

One Of Panama's Largest Banks Just Became Bitcoin-Friendly 1

Towerbank, a top 30 banking institution in Panama, just declared itself bitcoin-friendly, according to Cristobal Pereira, executive director of the Latam Blockchain Summit, where Towerbank made the announcement.

Following Pereira’s announcement, Towerbank’s Twitter account verified the news, writing, “Towerbank, in Panama, opens its doors to bitcoiners and cryptocurrency investors,” followed by a laser-eyed meme of the company’s headquarters.

Towerbank’s vice president of product, Gabriel Campa, is seen in a video posted to the Blockchain Space Instagram account discussing how the bank is researching bitcoin and other cryptocurrencies.

“And we hope to have something soon to offer our customers,” Campa continued, alluding to bitcoin-based product offerings.

“We want to work with you and know what we can create to help you be part of this new world,” Campa concluded.

According to Campa, the process for Towerbank customers who want to get started with bitcoin is simple. When asked what kind of documentation clients would need to open a bitcoin-friendly account, he said:

“They must only present the following requirements: name, ID card or passport, telephone number, email, activity in which they are engaged, place of work, monthly income and place of residence.”

Customers who wish to use these services will be needed to provide the address they wish to use for the sale and possession of bitcoin, according to Campa.

“When customers receive funds as a result of the sale of cryptocurrencies, we need to know the address of the wallet with which the transaction was made. So, if you only have one address, you must inform us at the time of opening the account and if you subsequently change your address, you must also inform us,” Campa explained.

Currently, many reports claim that Towerbank will not conduct direct bitcoin-to-bitcoin conversions at first, while the institution has retweeted some information implying that it will do so in the future.

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  1. I’m going to ask Elon Musk if he’s going to put his Billions of loose cash into this avant garde bank of Panama – – phooey on Gold or RE and all those old fashioned investos , let’s go mod! ……. … shalom to all

  2. Hopefully people will recognize that crypto and banks are 100% incompatible. crypto is meant to be nameless & mostly decentralized (well, not all crypto are decentralized but your get the idea.

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