Panama’s path to crypto adoption is stepping up a gear. Towerbank, a Panamanian financial institution with over 200 employees and 40 years of banking experience, has declared itself Bitcoin friendly (BTC), paving the way for crypto accounts.
In a series of tweets and leaks from a blockchain meetup in Panama’s capital, Panama City the bank is opening the floodgates to the crypto community. During the blockchain meetup hosted by the Chamber of Digital Commerce and Blockchain of Panama on May 26, representatives from Towerbank invited crypto enthusiasts to open accounts at the bank.
Reportedly, Gabriel Campa, vice president of product for Towerbank shared that crypto customers would not suffer “setbacks” that–ordinarily–Panamanian citizens would be subject to when executing crypto activities at the bank.
Cristobal Pereira, Executive Director of the Latam Blockchain Summit and an attendee of the meetup with Towerbank and Campa shared, “Towerbank is crypto-friendly.” In a tweet, he stated that crypto enthusiasts can “come to open accounts and deposit withdrawals from exchanges without fear.”
Acá en Panamá en #meetup con @Towerbank y anuncian que son #crypto friendly, y pueden venir a abrir cuentas y depositar retiros desde exchanges sin miedo… primer banco en Latam que públicamente anuncia esto! Digno de compartir! pic.twitter.com/mVEKFfI8Uf
— Cristobal Pereira (@cristpereirag) May 26, 2022
On May 28, Towerbank’s official Twitter account shared: “hello, crypto community!”, confirming rumors that the Top 30 Panamanian bank had taken a shine to crypto enthusiasts in Latin America. The tweet has since been pinned to the profile.
¡Hola comunidad #Crypto !
— Towerbank (@Towerbank) May 28, 2022
Reportedly, crypto-related transactions are limited up to $5,000 per month and the bank is not offering direct crypto to crypto services. To date, the move is a gesture to the crypto community that digital assets under a certain amount can be…
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