{"id":7822,"date":"2022-07-29T14:02:11","date_gmt":"2022-07-29T14:02:11","guid":{"rendered":"http:\/\/ci02a76a33f0002662"},"modified":"2022-07-29T14:02:11","modified_gmt":"2022-07-29T14:02:11","slug":"santander-brazil-to-offer-bitcoin-services","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/santander-brazil-to-offer-bitcoin-services","title":{"rendered":"Banking Giant Santander To Offer Bitcoin, Crypto Services In Brazil: Report"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><ul>\n<li>Santander Brazil will begin offering services for bitcoin and other cryptocurrencies in coming months.<\/li>\n<li>The CEO said the bank will release more details by or before its next quarterly results report.<\/li>\n<li>The bank\u2019s consideration of these new services is not directly influenced by competitor interest in the space, the CEO said.<\/li>\n<\/ul>\n<p>Santander Brazil, the third-largest private bank in the country, is preparing to launch services for bitcoin and other cryptocurrencies, its CEO Mario Leao said, according to a report from local newspaper <a href=\"https:\/\/www1.folha.uol.com.br\/mercado\/2022\/07\/santander-defende-manifesto-pro-democracia-e-posicao-da-febraban.shtml\" target=\"_blank\" rel=\"noopener\">Folha de S. Paulo<\/a>.<\/p>\n<p>\u201cWe expect to have definitions about it in the next few months, who knows in the next release [of quarterly results], or even before,\u201d said Leao. <\/p>\n<p>\u201cWe recognize that this is a market that\u2019s here to stay,\u201d Leao continued, adding that the bank\u2019s jump onto the cryptocurrency bandwagon is not necessarily a reaction to competitors but rather a response to client demand.<\/p>\n<p>Recently, Brazil\u2019s largest digital bank Nubank, which is backed by Warren Buffett\u2019s Berkshire Hathaway, <a href=\"https:\/\/bitcoinmagazine.com\/business\/warren-buffett-backed-nubank-buys-bitcoin-adds-trading\">bought bitcoin<\/a> and <a href=\"https:\/\/bitcoinmagazine.com\/business\/nubank-rolls-out-bitcoin-buying-in-brazil\">added bitcoin trading to its mobile application<\/a>, enabling 53 million Brazilians to easily purchase BTC. <a href=\"https:\/\/bitcoinmagazine.com\/business\/xp-inc-to-offer-bitcoin-trading-in-august\">XP<\/a>, the largest investment broker in Brazil, and <a href=\"https:\/\/www.reuters.com\/technology\/brazils-itau-eyes-offering-crypto-services-retail-clients-2022-07-14\/\" target=\"_blank\" rel=\"noopener\">Itau Unibanco<\/a>, the country\u2019s largest private bank, also announced the imminent offering of similar services to customers. Investment bank behemoth BTG Pactual is also <a href=\"https:\/\/bitcoinmagazine.com\/culture\/80-billion-brazilian-investment-bank-launches-bitcoin-and-crypto-trading-app\">dipping its toes<\/a> into the market.<\/p>\n<p>Brazil has experienced a heightened level of adoption for bitcoin and other cryptocurrencies. Last year, Chainalysis, an on-chain analytics firm, released a <a href=\"https:\/\/go.chainalysis.com\/rs\/503-FAP-074\/images\/Geography-of-Cryptocurrency-2021.pdf\" target=\"_blank\" rel=\"noopener\">report<\/a> detailing the top 20 countries globally based on differing metrics to measure adoption. Brazil ranked 14th on the list for overall adoption while also ranking fifth for total on-chain value transacted.<\/p>\n<p><a href=\"https:\/\/bitcoinmagazine.com\/tags\/brazil\">Brazil<\/a>\u2019s heightened bitcoin adoption links back to the country\u2019s increased innovations in the broader financial services sector; Brazil\u2019s Pix payment system allows any user to instantly transfer payments 24\/7, any day of the week. The country is also home to <a href=\"https:\/\/bitcoinmagazine.com\/business\/mercado-bitcoin-raises-200-million\">Latin America\u2019s largest cryptocurrency exchange<\/a>, Softbank-backed Mercado Bitcoin.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bank\u2019s CEO said the firm would release more details for its Bitcoin and cryptocurrency services by or before the release of its quarterly results.<\/p>\n","protected":false},"author":2785,"featured_media":7823,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[202,565,93,2089],"class_list":{"0":"post-7822","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-bitcoin-trading","9":"tag-brazil","10":"tag-news","11":"tag-santander"},"author_data":{"id":2785,"name":"Shawn Amick","nicename":"shawn-amick","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/MjEwMTYzMzc3Njg5ODYzNjQ2-96x96.webp"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/13907218414_492eabe4f6_o.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/7822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2785"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=7822"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/7822\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/7823"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=7822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=7822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=7822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}