Towerbank launched its Crypto Friendly account in Panama

Panama's Towerbank bank launched its Crypto Friendly account to maintain an approximation with the crypto market and with cryptocurrency users

Towerbank, one of the main financial institutions in Panama, is carrying out a study of the cryptographic market in order to innovate products for its clients and declared itself “bitcoin bank Panama friendly with Bitcoin“. In this framework, he launched his Crypto Friendly account, with which he hopes to get closer to cryptocurrency users.

The Chamber of Digital Commerce and Blockchain of Panama organized a meetup on bitcoin, called Blockchain Summit Latam, where the product vice president of the financial institution Towerbank, Gabriel Campa, made the announcement and took the opportunity to invite cryptocurrency investors to open their accounts in the entity. He guaranteed that “they will not suffer blockages, closures or other setbacks that Panamanian citizens usually report from banking when they carry out operations with cryptocurrencies.”

According to Campa, the financial institution wishes to work with the community that makes up the cryptographic system to meet the needs and create products and services that help citizens and the financial system to join the new world of finance with blockchain technology.

On the other hand, Cristóbal Pereira, CEO of Latam Tech and organizer of the Blockchain Summit Latam, published on his social network Twitter that Towerbank is the first Latin American financial institution to publicly announce that it is working to join the cryptocurrency system.

Opening accounts in Towerbank is simple

The vice president of products of the financial institution Towerbank also assured that the process for opening the Crypto Friendly account in Towerbank is simple, it only requires a few steps and the presentation of few documents.

“Those interested in opening a Crypto Friendly account should go to the bank to request an appointment. They only have to present the following requirements: name, identity card or passport, telephone number, email, activity to which they are dedicated, place of work, monthly income and place of residence. Explained the product vice president of Towerbank.

Campa pointed out that the benefit of the accounts is that users of cryptocurrencies through them will be able to change to fiat in exchanges and other service providers without setbacks.

In order to protect its users and “due to the financial risk that the use of cryptocurrencies in the banking sector may represent, customers are required to notify the bank of the addresses they use to trade crypto assets.”

The cryptographic system community is enthusiastic about the existence of friendly financial entities with digital currencies, due to the different inconveniences that clients have presented in previous years due to the closing of their accounts in different financial institutions.

M. Rodríguez

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