Banco Santander will offer Bitcoin and Ethereum trading in Brazil

Banco Santander approved trading with Bitcoin and Ethereum in Brazil through its Toro investment platform. In the initial stage it will apply to a select group of clients, and then it will be expanded to more than one million users in the country.

This step by Banco Santander will allow retailers to trade with Bitcoin and Ethereum. According to some reports, the bank seeks to compete in the crypto market with Nubank, Itaú, Inter and BTG Pactual.

João Resende, founder and CEO of Toro, has indicated that the objective is to enable other cryptocurrencies at a later stage.

The country has advanced in measures that in the medium term will allow operations with cryptocurrencies to be channeled, taking into account the increase in the global adoption of these assets.

In this sense, in May the Central Bank of Brazil reported that “it will reveal details about the new regulatory framework applicable to cryptocurrencies at the end of this year, a process that will be divided into phases, and whose progress will structure the proposals that will be presented to local level.”

M.Pino

Source: diariobitcoin

(Reference image source: Erling Løken Andersen in Unsplash)

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