One of the biggest banking institutions in the world, Santander has recently announced that they will start crypto services in the country of Brazil. Their CEO made an announcement and in an interview, Mario Leao said that they are looking for the best way to get the operation going for people.
Since other banks and fintech startups are already offering their crypto-related services in the country, Santander will do that soon too. They have over 153 million happy customers and are still growing.
The CEO said that they will be launching these services in the coming few months and the crypto market is here to stay. Even though the market has plummeted, the adoption of crypto and DeFi hasn’t slowed down. With demand for crypto increasing in Latin America it was only logical for one of the largest banks there to get in on it.
Nubank and Picapy already have their crypto services set up in the country and doing well. Picpay also plans on launching a fiat-based stablecoin by the end of the year. This will give the crypto activities in the country a big boost.
With the world warming up to crypto and adopting more DeFi than ever, this is the best time to invest in crypto. Buy on the dip and make sure to invest regularly to get the maximum returns on your investment. Big financial institutions have now been accepting crypto as a new gen fintech endeavor and it is here for a long time.