Published May 31, 20222 min read

Through a series of tweets and jokes, Towerbank, a Panamanian bank, welcomes Bitcoin and cryptocurrency clients

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CoinMooner Team
artwork image for: Bitcoin-friendly Panama Bank Embraces Crypto Services

Through a series of tweets and leaks from a blockchain event in Panama City, the bank is throwing up the floodgates to the cryptocurrency community. During the Chamber of Digital Commerce and Blockchain of Panama's blockchain event on Thursday, Towerbank reps offered crypto enthusiasts to register bank accounts.

Gabriel Campa, vice president of product at Towerbank, reportedly said that crypto clients will not be subject to "setbacks" that normally apply to Panamanian residents doing crypto transactions with the bank.

Cristobal Pereira, executive director of the Latam Blockchain Summit and a meetup participant with Towerbank and Campa, said, "Towerbank is crypto-friendly." In a tweet, he added that crypto aficionados may:

come to open accounts and deposit withdrawals from exchanges without fear.

Quotation mark

On Saturday, Towerbank's official Twitter account tweeted "hey, crypto community!" to confirm speculations that the Top 30 Panamanian bank had developed a crush on crypto enthusiasts in Latin America. Since then, the tweet has been pinned to the profile.

According to reports, monthly crypto-related transactions are restricted to $5,000, and the bank does not provide direct crypto-to-crypto services. Currently, the move is a signal to the crypto community that digital assets under a specific threshold may be spent at the bank without restriction.

Since then, Towerbank has retweeted tweets indicating that clients would be able to connect their cryptocurrency accounts, such as Binance, directly to their Towerbank bank accounts, but no official declaration has been issued.

In Panama, there is a wave of pro-crypto enthusiasm, but the president declared in May that a crypto law would not be introduced anytime soon. For other analysts, the bank's pro-cryptostance is not just a way to erode crypto's negative image, but also to broaden its client base by reaching out to the money-focused crypto community.

The bank's Bitcoiner credentials were finally established when its Twitter account reposted a joke produced by Bitcoiner Aldo Antinori. In the tweet, Towerbank's main building in Panama City's financial area is shown with laser eyes ideal for Bitcoin.

Coinmooner representatives has reached out to Townbank for further information and a comment on current run of development.

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