Spain-based Santander bank, which is active in about 50 countries, is stepping into the crypto market again. This time, the Brazilian leg will undertake the attack of the company’s new venture in the crypto world.
Santander Brazil CEO Mario Leao said in a statement yesterday; He said Santander plans to create a crypto trading channel for its customers in Brazil in the coming months.
Santander Brazil Prepares for Cryptocurrency Trading
Having partnered with Argentina-based Agrotoken in Latin America last March, Santander’s new market-related services are expected to emerge in the coming months.
According to the news of CoinDesk, Santander is preparing to invest $225 million in the 3-year period after November. The company stated that the news on crypto will increase after the balance sheets to be announced after mid-October.
Mario Leao, Brazil CEO of Santander, which has a close relationship with the Ripple blockchain since 2019, said in a statement:
“We are aware that this is a permanent market and this is not a reaction to our competitors, it is simply a demand from our customers for crypto and similar assets. We must find the best and the right way to meet this demand in the best way.”
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