Santander Private Banking International, a division of the well-known Spanish financial services conglomerate Banco Santander, has introduced trading and custody services for Bitcoin (BTC) and Ethereum (ETH) to a select group of Swiss customers. This is a significant step toward incorporating cryptocurrencies into the traditional banking sector.
Santander Private Banking International intends to expand its crypto services in the coming months by adding support for additional cryptocurrencies, joining the ranks of Bitcoin and Ethereum.
The decision to enter the cryptocurrency space is notable, especially given that many large banks are wary of embracing public blockchain-based crypto.
Investors hail Santander’s action as brave and point out that it could increase the visibility of Ethereum and Bitcoin for a larger group of people.
The broad acceptance of digital assets is anticipated to increase with the addition of these top cryptocurrencies by a significant financial institution.
There has been a steady decline in the quantity of “whale transactions” involving ETH valued at least $100,000 as of November 16, according to data from Santiment.
Even so, the cryptocurrency market as a whole has been growing; in fact, the results of the Argentine election have coincided with a notable wave of growth.
Ethereum (ETH) is currently trading at $2040, up 4.07% over the past day and with a significant increase in trading volume of 25.37% as of this writing.
The market for crypto is dynamic and adaptable to major developments in the industry, as demonstrated by this development.