$BTC Panama Blockchain Week: “Ikigii connects the crypto world and fiat,” according to Towerbank
As part of Panama Blockchain Week, Towerbank shared insights on the industry based on the recent launch of the digital wallet Ikigii, which integrates access to both dollar and cryptocurrency accounts in a single financial experience.
“Through Ikigii, we provide a solution, a bridge that connects the crypto world and fiat to allow for free transactions,” shared Johan Hernández, business executive of Towerbank's crypto banking, during Panama Blockchain Week in conversation with Cointelegraph in Spanish.
Hernández referred to the recent launch of the digital wallet Ikigii, developed by Towerbank, which integrates access to both dollar and cryptocurrency accounts in a single financial experience.
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According to the executive, the initiative was born three years ago when the bank started to notice that some clients were beginning to buy cryptocurrencies through the bank's credit cards. “They started to notice a trend and sought to engage with these clients to interview them, learn what this crypto thing was, and their perspective,” he stated.
The underserved crypto community
What they discovered at Towerbank was that the crypto community in Panama was not being served by traditional banking; quite the opposite. Hernández revealed that if there was talk of crypto, bitcoin, or any transaction, the bank would close the account.
“The bank took note of this and decided to declare itself as a crypto-friendly bank three years ago. With the aim of providing a place where the community could come and request a regular checking account and be able to deposit dollars from crypto-related activities; trading, mining, investment, etc. Thus began Towerbank's crypto banking,” he affirmed.
