Opening a New Dispensation
A Panama-based bank, Towerbank, has said it is now getting ready for the crypto market. The bank said it is preparing to start meeting financial service demands in the cryptocurrency world.
Towerbank is among the first 30 banks in Panama and it has a staff strength of upward of 200. The bank is getting its moves to top gear to become a leading crypto service outfit. The management has said it plans to do everything possible to meet crypto needs.
There was a blockchain meeting on the 26th of May in Panama. Participants at the meeting were informed that there was now a bank for crypto users. Crypto traders and other enthusiasts at the meeting received the news with hearty cheers.
Such services they were promised include being able to receive and send funds in and out of exchanges. Users will be able to carry out their transactions without fear or feeling like criminals. There is a feeling and air of fraud attached to trading crypto in Panama.
Towerbank’s VP for Product Design, Gabriel Campa, said the bank wants to become part of the crypto community. He said the bank will build a service base to meet the changes provided by the community’s present pain points.
Campa said further that Towerbank will be implementing the required basic infrastructure within 90 days. He also said the bank will be adding more services to its crypto accounts.
On the 2nd of June, the bank took to Twitter to announce its crypto account policy. It said that customers will be able to pay for their crypto purchases via their accounts in the bank. Customers will also be able to deposit funds made from selling their crypto assets to their accounts.
On the 4th of June, the bank went ahead to publish a video through which it gave further information. The new information centered around the usage of the crypto-friendly account it would be providing to users.
There are equally reports that crypto transactions in the bank are pegged at $5,000 a month. Also, the bank said it is not yet offering any crypto-to-crypto service at the moment.
Still in the Market
In other news, Ripple’s former Developer Advocate, Matt Hamilton, said XRP could hit $100 soon. Hamilton who is now the Director of Developer Relations with Bittensor held the same position at Ripple from February 2021 to September 2021. He later became Ripple’s Principal Developer Advocate from September 2021 to March 2022.
Hamilton made his prediction in response to a Bitcoin trader who said XRP IS worthless. The Bitcoiner took to Twitter to say further that XRP has no chance of hitting a $5 trillion capitalization in the market.
Hamilton argued strongly that XRP has maintained the top ten spot because it works. XRP is presently trading in the vicinity of $0.3972 with a market capitalization of $39.72 billion.