One of the largest banks in Panama, Towerbank, announced that it is starting to provide cryptocurrency services.
Representatives of Towerbank at the Conference of the Chamber of Digital Commerce and Blockchain of Panama invited crypto enthusiasts to open accounts in their bank, saying that the company is heading to expand the list of services.
The bank’s vice president of products, Gabriel Campa, assured that customers using digital currencies will not encounter problems when performing crypto transactions. Representatives of the company assure that Towerbank has already prepared all the necessary structure for the successful implementation of new services.
According to the announcement, crypto-related transactions will be limited to $5,000 per month, while the bank will not offer to buy crypto assets directly. It is assumed that the limit will be expanded in the future, and the bank will probably launch its own digital asset conversion service.
Towerbank customers will be able to link their cryptocurrency accounts on other exchanges, such as Binance, directly to their bank accounts.
According to Gabriel Campa, in order to open a cryptocurrency account with a bank, you need to contact the bank or make an appointment with one of the representatives. You will need to provide an identity card, phone number, email address, type of activity, place of work, place of residence and monthly income.
Recall that earlier the President of Panama, Laurentino Cortizo, said that he would not sign a bill on the regulation of digital currencies in the country until stricter measures to combat money laundering were prescribed in it.
Source: Bits
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