Earlier in March, the corporate announced the launch of token-backed loans for Argentinian farmers.  The deal was facilitated along with the S.American agri-commodities tokenization platform Agrotoken.

The financial institution additionally launched an initiative designed to assist foster the expansion of startups related to the worldwide blockchain ecosystem known as “Santander X Global Challenge  — Blockchain and Beyond.

Brazil turning into hotbed for crypto finance

In latest months, a rising variety of non-crypto monetary firms have revealed their plans to launch crypto ventures in Brazil.

Fintech agency PicPay lately introduced that it will likely be launching a crypto change within the nation alongside a stablecoin pegged to the Brazilian actual by the top of 2022.

Late final yr, Mercado Libre, Latin America’s largest e-commerce agency by complete valuation, afforded its Brazilian customers the choice to begin shopping for, promoting, and holding digital property utilizing its platform.

Earlier this week, Brazil’s largest digital financial institution, Nubank, introduced that it had accrued a whopping a million customers for its crypto trading platform inside simply 30 days of its launch.

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