Banco Santander S.A., the Brazilian subsidiary of the Spanish Santander Group, is reportedly eyeing the launch of crypto trading for its clients, per local media publication Folha de S. Paulo.
Speaking to journalists on Thursday, Santander Brazil CEO Mario Leão reportedly said that the bank hopes to share more information on the matter in the next few months, possibly during the publication of its next quarterly results.
"We recognize that it is a market that is here to stay, and it is not necessarily a reaction to competitors positioning themselves; it is simply a vision that our client has demand for this type of asset, so we have to find the most correct and most educational way to do it," said Leão.
According to the report, Santander’s Brazilian subsidiary is also mulling the use of blockchain technology to tokenize traditional market assets, such as debt securities issued by companies, with the goal of making these assets accessible to a wider audience.
The announcement follows...
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