Santander, one of the largest banking institutions in the world, has announced that it will begin offering cryptocurrency services in Brazil.
The CEO, Mario Leão, said that the company is still looking for the best way to enter the crypto services market.
Santander, one of the largest financial institutions in the world, serves more than 153 million customers.
Leão also realized that the cryptocurrency market “here to survive”, ohng explained that this is a move driven by domestic demand and that Santander is researching the best way to enter the crypto market.
Many banks and fintech companies are considering offering crypto-related services due to customer demand for these investment products. One of these institutions is Itau Unibanco, one of the largest banks in Brazil, which has report that they are considering introducing crypto products earlier this month.
Picpay, a payment company, announced that they will introduce cryptocurrency in their list of services. The company also explained that it plans to launch a stablecoin pegged to the Brazilian real, later this year.
Even Visa is now working with traditional banks to integrate crypto services directly into banking applications.