Santander, which is a Spanish multinational banking giant, is going to make strides in the cryptocurrency industry. Santander Brazil’s CEO, Mario Leao revealed on Thursday that the bank is planning to launch crypto trading services for Brazilian clients in the coming months.
First reported by local newspaper Folha de S. Paulo, the bank is expected to provide further details about its crypto plans in the company’s next earnings release which will come out in mid-October.
The Brazilian Crypto Space
Santander’s move came after several other mainstream financial institutions in Brazil entered the crypto industry with their services. Nubank, which is Brazil’s largest digital lender, recently revealed that the number of its crypto trading users crossed one million too only a month after launching the services.
PicPay, another Brazilian fintech