Once a critic, now a tutor – Santander, the Spanish banking behemoth, appears to be singing a new song as it plunges headlong into the digital currency wave. It’s a curious change from 2022 when the $57 billion banking titan was somewhat skeptical, placing constraints on Bitcoin payments. However, in a turn as swift as a high-speed blockchain transaction, Santander has launched a ‘Digital Assets 101’ educational initiative.
The series is making waves as it strips down complex crypto concepts to the fundamentals, highlighting benefits and implications for the uninitiated. Beginning on June 9, Santander kicked off with a first lesson – ‘Everything you need to know about Bitcoin.’ But the bank wasn’t content with a mere introduction. A week later, it delved into the minutiae of Bitcoin’s Lightning Network protocol, applauding it for enabling “millions of transactions per second.”
Notably, this education initiative coincides with a period of rising institutional interest in digital assets. As Bitcoin ETFs become increasingly popular, various large-scale institutions have begun appreciating the potential the cryptocurrency space holds. They’ve clambered aboard the Bitcoin ETF bandwagon, providing an avenue for clients to dabble in crypto without a direct risk. Whether Santander’s newfound interest is a signal or simply a response to the shifting winds of finance, only time will tell.