Top 30 Panama Bank is ‘Bitcoin friendly,’ welcomes crypto services
Panama’s cryptocurrency adoption is picking increasing speed. Towerbank, a Panamanian financial company with over 200 people and 40 years of banking experience, has proclaimed itself Bitcoin (BTC) friendly, making crypto accounts possible.
The bank has opened the floodgates to the crypto community with a series of tweets and leaks from a blockchain meetup in Panama City, the country’s capital. Representatives from Towerbank welcomed crypto enthusiasts to create accounts at the bank during the Chamber of Digital Commerce and Blockchain of Panama’s blockchain meetup on Thursday.
According to reports, Gabriel Campa, vice president of product at Towerbank, stated that crypto consumers would not face the “setbacks” that Panamanian citizens would face when conducting crypto transactions at the bank.
“Towerbank is crypto-friendly,” said Cristobal Pereira, executive director of the Latam Blockchain Summit and a participant in the meetup with Towerbank and Campa. Crypto aficionados can “come to register accounts and deposit withdrawals from exchanges without worry,” he said in a tweet.
According to reports, cryptocurrency transfers are restricted to $5,000 per month, and the bank does not provide direct crypto-to-crypto services. To date, the move has been seen as a signal to the crypto community that digital assets worth less than a specific amount can be spent at a bank without difficulty.
Towerbank has since retweeted tweets claiming that clients will be able to link their cryptocurrency accounts, such as Binance, to their Towerbank bank accounts, but no official statement has been made.
Although there is a groundswell of pro-crypto enthusiasm in Panama, the president declared in May that a crypto bill will not be passed anytime soon. According to some analysts, the bank’s pro-crypto action is not just a way to improve crypto’s image, but also a way to diversify its customer base by reaching out to the money-oriented crypto community.
Finally, the bank demonstrated its Bitcoiner credentials by retweeting a meme developed by Bitcoiner Aldo Antinori on Twitter. Towerbank’s flagship building in Panama City’s financial area is shown in the tweet as having Bitcoin-themed laser eyes.