Top 30 Panama Bank is ‘Bitcoin Friendly’, Welcomes Crypto Services


Panama’s path to crypto adoption is shifting into high gear. Towerbank, a Panamanian financial institution with over 200 employees and 40 years of banking experience, has declared itself Bitcoin (BTC) friendly, paving the way for crypto accounts.

In a series of tweets and leaks from a blockchain meeting in Panama’s capital, Panama City, the bank is opening the floodgates to the crypto community. At the blockchain meetup hosted by the Chamber of Digital Commerce and Blockchain of Panama on May 26, representatives from Towerbank invited crypto enthusiasts to open accounts at the bank.

Apparently, Gabriel Campa, Vice President of Products for Towerbank, said that crypto clients will not experience “setbacks” that normally Panamanian citizens would be subjected to when performing crypto activities at the bank.

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Cristobal Pereira, Executive Director of the Latam Blockchain Summit and participant in the meetup with Towerbank and Campa, said, “Towerbank is crypto friendly.” In a tweet, he said crypto enthusiasts can “come and open accounts and deposit withdrawals from exchanges without fear.”

On May 28, Towerbank’s official Twitter account shared, “Hello, crypto community!”, confirming rumors that the Panamanian Top 30 bank had caught the attention of crypto enthusiasts in Latin America. The tweet has since been pinned to the profile.

Reportedly, crypto-related transactions are limited to $5,000 per month and the bank does not offer direct crypto-to-crypto services. As of today, this decision is a gesture for the crypto community that digital assets below a certain amount can be used in the bank without obstacles.

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Towerbank has since retweeted tweets suggesting customers will be able to link their crypto accounts, such as Binance– directly to their Towerbank bank accounts, but no official statement has been made.

A groundswell of pro-crypto sentiment has stirred in Panama, but the president announced in May that a crypto bill would not land any time soon. For some commentators, the bank’s pro-crypto movement is not only a way to undermine the bad reputation that crypto endures, but also to diversify its customer base, expanding into the money-focused crypto community.

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Finally, the bank brought home its Bitcoiner credentials when the Twitter account retweeted a meme created by Bitcoiner Aldo Antinori. In the tweet, Towerbank’s flagship building, located in Panama City’s financial district, sports Bitcoin-friendly laser eyes.

TAUT has contacted Towerbank for comment and will update the article as soon as possible.