One Of Panama’s Largest Banks To Embrace Bitcoin

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Panama Bank Bitcoin

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The financial institution Towerbank has just declared itself “bitcoin-friendly.”

Towerbank is one of the top 30 banking institutions in Panama.

This bank encourages its customers to have a bitcoin-friendly account with a few simple documentation requirements.

Customers need only provide the bank with the address of the wallet they intend to use and notify the bank if the address changes.

The announcement came in a tweet from Cristobal Pereira, the executive director of the Latam Blockchain Summit, the event where Towerbank made the announcement.

After Pereira’s announcement, Towerbank in its official account confirmed the announcement, saying “Towerbank, in Panama, opens its doors to bitcoiners and cryptocurrency investors.”

A video posted by Blockchain Space’s official Instagram account shows Towerbank’s vice president of product, Gabriel Campa saying that the institution is studying bitcoin.

Campa also expressed, “We want to work with you and find out what we can create to help you become part of this new world” and concluded, “We hope to have something soon to offer our customers,” referring to bitcoin-based product offerings.

Towerbank customers interested in opening a bitcoin account only need to submit as requirements: name, ID or passport, phone number, email, inform the activity they are engaged in, place of work, monthly income and place of residence.

In Campa’s words, “when customers receive funds as a result of selling cryptocurrencies, we need to know the address of the wallet from which the transaction was made.” Therefore, if they only have one address, they must inform us at the time of opening the account, and if they subsequently change their address, they must also inform us.

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