If the year 2022 wasn’t bad enough for the cryptocurrency industry, the constant rise in the inflation rates has made things worse for the crypto-verse.
However, the cryptocurrency industry has finally started making a comeback and things now seem to be doing a bit better.
Current Uncertainties among the Cryptocurrency Investors
As the market situation of the cryptocurrency industry has continued to worsen in the year 2022, investors have grown very concerned and uncertain about investing in digital assets.
Despite the recent bullish run of the crypto-verse, it is far from its all-time high performance. People ended up losing billions in cryptocurrencies in recent months. This has caused the investors to be extremely cautious and uncertain about their future.
Mainstream Institutions Inject Hope among Investors
It is during these harsh and uncertain times that the mainstream institutions have come in to save the day. The mainstream institutions are literally backing up the investors and boosting their morale to continue investing in cryptocurrencies.
As the cryptocurrency sector has hungered for mainstream recognition, it is the mainstream institutions that have the ability to convince investors to invest in cryptocurrencies.
Banco Santander S.A. Contributes to the Cause
The Spanish Santander Group’s subsidiary, Banco Santander S.A. in Brazil is contributing to the cause by boosting the morale of the investors in the region. It is expected that the recent statement made by the executives at Banco Santander S.A. will do so much in convincing the investors to come back to cryptocurrencies.
Banco Santander aims to offer Cryptocurrency Trading Service
Banco Santander has recently announced it will be launching its trading platform where the clients will be able to trade cryptocurrencies. According to the financial institution, it plans on introducing cryptocurrency trading services by the end of the running year.
Banco to Start Services from Brazil
Banco has announced that in the initial phase, their plan is to offer a cryptocurrency trading platform to the locals of Brazil. The people in Brazil will have the opportunity to trade in cryptocurrencies through Banco Santander by the end of the year.
Banco offering cryptocurrency trading services is not a rumor but an official announcement made by Folha de S. Paulo, who is the CEO of Santander Brazil.
The CEO has revealed that in the earnings posting for the running quarter, they will confirm exactly how they plan on rolling out cryptocurrency trading services.
More Supporters from Latin America
Banco is not the only financial institution in Latin America aiming to back up cryptocurrencies. Other financial institutions such as Nubank and XP have also started supporting cryptocurrency trading services.
This is a strong signal for the entire cryptocurrency investment community as they will have the opportunity to invest in cryptocurrencies without any uncertainties in mind.
In the past 24 hours, the trading values of Bitcoin, Ethereum, Binance Coin, XRP, and Cardano have surged by 3.48%, 4.13%, 6.83%, 4.16%, and 5.54% respectively. The overall market valuation of the crypto-verse is $1.08 trillion.