[Delio] Santander’s Branch in Brazil to Provide Crypto Trading Feature

Spanish banking giant Santander plans to provide cryptocurrency trading services via the Brazilian branch in the upcoming months due to its crypto demand in Latin America, media channel CoinDesk reported on July 29.

Santander has already made strides with cryptocurrency earlier this year in Latin America. In conjunction with Agrotoken, an Argentine agricultural commodities tokenization platform, it introduced loans for farmers in Argentina in March that were secured by tokenized commodities.

Recently, a number of non-crypto financial companies in Brazil declared their increasing interest in the cryptocurrency space. In particular, PicPay announced its start of cryptocurrency exchange and stablecoin-backed services by the end of 2022. In addition, Mercado Libre, Latin America’s largest e-commerce company, has been already enabling users with the crypto asset trading services.

Notably, another Brazilian largest bank Nubank announced it has reached one million members by market value on its cryptocurrency trading platform after only one month of operation indicating a stable and continuous rise of the crypto industry in Latin America.

Source: COINDESK

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