Towerbank

What Towerbank does

Towerbank International Inc. is a Panama-based private bank founded in 1970/71, licensed by the Superintendencia de Bancos de Panama and operating a Cayman Islands subsidiary regulated by CIMA. It serves retail, corporate, and high-net-worth clients with a full-stack product set that includes checking and savings accounts, Visa and Mastercard credit and debit cards, personal loans, mortgages, trade finance, structured credits, letters of credit, fiduciary services, leasing, and a licensed securities brokerage (TowerSecurities). Technology platforms include the Tower Pay merchant suite (TowerCart, TowerLink, TowerQR, TowerAPI) for eCommerce payments and the ikigii mobile app, which provides USD banking combined with cryptocurrency on/off-ramp functionality across nine Latin American countries, supported by a BitGo integration for digital asset infrastructure.

The bank is family-controlled (Kardonski family) and operates five physical branches in Panama City alongside its digital channels. Revenue is generated from net interest income on lending, account and transaction fees, card annual and interchange fees, eCommerce payment processing margins, brokerage commissions, and emerging digital asset service fees. Recent strategic emphasis has been on regulated crypto-friendly banking, institutional digital asset services, and regional expansion of the ikigii platform, with the company building dedicated AI/data and digital asset leadership functions to support these initiatives.

Name

Towerbank

Legal name

Towerbank International Inc.

Website

https://towerbank.com

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

101–250 employees

Short description

Towerbank International Inc. is a Panama-based private bank serving retail, corporate, and high-net-worth clients with deposit, lending, card, securities, payments, and crypto-friendly USD banking products across Panama and nine Latin American countries via its ikigii app.

Ownership category

akta.pro rank

Product category

Retail and Commercial Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Digital Banking & Neobank Platforms (BPAMAFAD)

akta.pro secondary industries

Crypto Borrowing & Margin Credit Facilities (FSADAFAC), Tokenized Bank Deposit & Commercial Bank Money Issuers (FSADADAB), Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE)

Keywords

• Retail banking services
• Corporate banking
• Trade finance
• Crypto-friendly banking
• Investment brokerage

Headquarters

HQ city

Panama City

HQ country

Panama

HQ region

Latin America

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income: Revenue from lending activities including personal loans, mortgages, auto loans, commercial loans, and credit facilities. Interest rates vary by product type.
2. Account and Transaction Fees: Monthly maintenance fees, inactivity charges, overdraft fees, wire transfer commissions, ATM withdrawal fees, and foreign currency conversion charges.
3. Card Services: Annual membership fees for Visa and Mastercard debit and credit cards (Classic, Gold, Infinite tiers), plus fraud protection insurance charges.
4. eCommerce Payment Processing: Transaction commissions from Tower Pay payment solutions for merchants, including 3.75% transaction fees plus additional international fees.
5. Investment Services: Brokerage commissions from TowerSecurities for trading local and international securities, mutual funds, and fixed income products.
6. Digital Asset Services: Services related to cryptocurrency custody, trading, and lending through the ikigii platform for crypto-friendly account holders.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

Towerbank International Inc. is a Panama-based licensed bank providing personal and corporate banking services including checking and savings accounts, debit and credit cards, mortgages, auto and personal loans, term deposits, and foreign trade financing. It operates the ikigii mobile application for USD and cryptocurrency (BTC, ETH, USDT, USDC) banking across nine Latin American countries, the Tower Pay eCommerce payment processing suite, and TowerSecurities investment brokerage, complemented by trust, leasing, and international wire transfer services.

Product overview

Towerbank is a Panama-based international bank offering a comprehensive suite of financial products and services across Latin America. The portfolio centers on the ikigii mobile app for dual-currency (USD and crypto) banking, supported by TowerOnline as the digital banking platform. The product range spans checking and savings accounts including specialized Crypto-Friendly accounts and tiered savings (TowerPlus, TowerMax, TowerKids), credit cards (VISA Classic, Gold, Infinite; secured credit card; VISA and Mastercard debit), term deposits (Deposito a Plazo Fijo), and lending products (auto loans, mortgages, personal loans, leasing). For business clients, Towerbank provides TowerPay eCommerce payment solutions (TowerCart, TowerLink, TowerQR, TowerAPI), investment/brokerage services through TowerSecurities, structured credits, foreign trade financing, trust services (Fideicomiso), and international wire transfers. Card-linked promotions and loyalty programs (Avianca LifeMiles, Every Day Value cashback, Priceless Cities) round out the consumer offering. Security features include Click to Pay tokenization and CVV Dinamico (CVVKey) for VISA cards.

Differentiator

Problem solved

Functional benefit

Brands

• ikigii: Digital asset and cryptocurrency banking platform enabling users to manage money in dollars or crypto; available in Panama, Bolivia, Colombia, Costa Rica, Guatemala, Honduras, Argentina, Mexico, and Peru.
• Tower Pay
• TowerSecurities
• TowerLeasing
• TowerTrust

Products and services

• ikigii Mobile Banking App Mobile banking application allowing users to manage money in both US dollars and cryptocurrency (BTC, ETH, USDT, USDC), with crypto-backed lending capabilities. Backed by Towerbank International Inc. and available in Panama, Bolivia, Colombia, Costa Rica, Guatemala, Honduras, Argentina, Mexico, and Peru.
• TowerOnline Online banking platform providing account access, transfers, statements, and transaction management for Towerbank customers.
• Cuenta Corriente Crypto-Friendly A US dollar checking account designed for crypto-native clients with a $100 minimum opening balance for individuals and corporations, supporting both USD and cryptocurrency (USDT, USDC, BTC, ETH) transactions.
• Cuenta de Ahorro Crypto-Friendly A savings account with a 4.00% interest rate for balances of $1,000 or more, designed for crypto-native clients.
• Cuenta de Ahorro TowerPlus Savings account with 3.25% interest rate for balances starting at $5,000; minimum opening deposit of $5,000.
• Cuenta de Ahorro TowerMax Savings account with 3.50% interest rate for balances from $2,500 to $250,000; minimum opening deposit of $2,500.
• Cuenta de Ahorro TowerKids Savings account designed for children with a 2.50% interest rate starting from $100; minimum opening deposit of $100.
• Depósito a Plazo Fijo Fixed-term deposits with interest rates ranging from 3.00% to 4.50% depending on term length (1 month to 2 years) and payment frequency. Minimum opening deposit of $10,000.
• VISA Credit Cards Towerbank issues VISA credit cards in three tiers: VISA Classic (annual fee $60, nominal rate 22.00%), VISA Gold (annual fee $90, nominal rate 19.00%), and VISA Infinite (annual fee $210, nominal rate 14.00%), all with global purchasing capabilities, fraud protection, and brand benefits including travel insurance.
• VISA Debit Cards VISA debit cards with 10 exclusive designs, free card delivery nationally, free withdrawals at Clave ATMs in Panama, and global payment capabilities. Daily withdrawal limit of $1,000 and daily purchase limit of $5,000.
• Mastercard Debit Cards Mastercard debit cards with unlimited free withdrawals at all ATMs in Panama, global purchasing, and free card delivery nationally, offered in multiple design variants.
• Tarjeta de Crédito Garantizada Secured credit card where the credit limit is determined by a collateral guarantee in US dollars or stablecoins (USDT, USDC), allowing dollar-denominated credit card usage regardless of nationality or credit history.
• Préstamo de Auto Auto financing loan with interest rates starting from 7.25%, financing up to 80% of the vehicle value, and terms up to 7 years.
• Préstamo Hipotecario Mortgage loan for primary residence with financing up to 90%, terms up to 30 years, and interest rates starting from 7.00%; also available for second homes and investment properties starting from 7.50%.
• Préstamo Personal Personal loan with interest rates starting from 10% and terms up to 6 years.
• Leasing Financial leasing product with interest rates starting from 9%, 1% FECI, closing fees of 1% (minimum $350), and a pre-cancellation fee of 2 installments.
• Tower Pay Electronic payment processing solutions for merchants including TowerCart (online checkout), TowerLink (payment linking), TowerQR (QR code payments), and TowerAPI (API-based integration). Transaction commissions start from 3.75% per transaction plus additional international fees.
• Inversiones / TowerSecurities Investment brokerage services through TowerSecurities, Inc. providing access to local and international markets including local equities, fixed income, international equities, penny stocks, structured notes, hedge funds, and mutual funds. Regulated by the Superintendencia del Mercado de Valores as a securities house.
• Transferencias Internacionales International wire transfer service for receiving and sending funds in USD and EUR. Correspondent banks include Wells Fargo, Citibank, JP Morgan for USD and Banco de Sabadell for EUR.
• Fideicomiso (Trust Services) Trust services for structuring and administering trusts, including corporate trust arrangements for companies, offered through the TowerTrust subsidiary.
• Créditos Estructurados y Financiamiento Corporativo Structured credit products for corporate clients including working capital financing, medium-term loans, credit lines, letters of credit, and foreign trade financing across Latin American markets.
• Cajas de Seguridad Safe deposit box rental service available in three sizes: 10x10 inches ($250/year), 5x10 inches ($200/year), and 3x5 inches ($100/year).

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• BitGocoreTechnology or Integration · 19 May 2026BitGo launched a modular bank-ready operating model for digital asset infrastructure. TowerBank is one of the financial institutions where BitGo's product is deployed, providing institutional-grade custody, trading, staking, stablecoins, and wealth management services within a compliance and governance framework.
• Avianca LifemilesminorGTM or Marketing PartnerLoyalty program partnership allowing Towerbank cardholders to convert purchases into Avianca Lifemiles for travel rewards. Partnership enables customers to earn miles on everyday spending.
• Wells Fargo Bank, N.A.minorOthersCorrespondent banking relationship for international wire transfers in USD. SWIFT code PNBPUS3NNYC, ABA 026005092 for transfers to Towerbank accounts.
• Citibank NAminorOthersCorrespondent banking relationship for international wire transfers. SWIFT CITIUS33, ABA 021000089 for USD transfers.
• JP MorganminorOthersCorrespondent banking relationship for international wire transfers. SWIFT CHASUS33, ABA 021000021 for USD transfers.
• Banco de Sabadell, S.A.minorOthersCorrespondent banking relationship for international transfers to/from Spain. SWIFT BSABESBB for EUR transfers.
• VisacoreChannel Partner/ Reseller/ DistributorVisa card issuing partnership providing Classic, Gold, Infinite, and Business credit and debit cards with global acceptance and fraud protection services.
• MastercardcoreChannel Partner/ Reseller/ DistributorMastercard issuing partnership providing debit cards with global acceptance, Priceless Cities experiences, and cashback promotions for cardholders.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Nubank: Latin America's largest neobank with operations across Brazil, Mexico, Colombia, and other markets. Comparable as a digital-first banking platform serving Latin American consumers, though at much larger scale and with broader retail focus.
• Mercado Pago: Latin American digital wallet and payment processor from MercadoLibre, operating across the region. Comparable as a digital financial services platform serving similar LatAm consumer and merchant segments with payments and credit products.

Emerging players

• Bitso: Latin America's largest crypto exchange, operating across multiple LatAm countries including several where ikigii is present. Comparable as a crypto-native financial services platform serving similar crypto-curious consumers in the same regional markets.
• Stablecorp (or similar crypto-banking-as-a-service): Companies in the crypto-banking infrastructure space that partner with traditional banks to offer digital asset services. Comparable as a peer in the niche of bridging regulated banking with crypto-native products, though typically operating as the technology provider rather than the bank itself.

Direct peers

• Caja de Ahorros: Panamanian state-owned savings bank with deep personal banking franchise. Comparable in operating geography and focus on retail/personal banking, with a similar role serving Panamanian consumers and SMEs.
• Banistmo: Panamanian commercial bank owned by Grupo Bancolombia, providing personal and corporate banking across Panama with strong trade finance capabilities. Comparable in operating geography, customer segments, and trade finance focus.
• Banco General: Panama's largest private bank offering comprehensive personal, corporate, and trade finance services. Directly comparable as a Panama-based commercial bank serving similar corporate and retail clients with traditional and digital offerings.
• BAC Credomatic: Central American bank present in Panama, Costa Rica, Guatemala, Honduras, Nicaragua, and El Salvador. Comparable as a regional commercial bank with similar personal/corporate banking and digital product offerings across Latin America.
• Davivienda Panama: Colombian bank Davivienda's Panama operations, providing commercial and personal banking. Comparable as a foreign-headquartered bank operating in Panama with similar corporate and retail focus.
• Global Bank Corporation: Panamanian commercial bank providing personal, corporate, and trade finance services from a Panama City base. Direct peer operating in the same domestic market with comparable customer segments and product range.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/towerbank
• YouTubeyoutube.com/channel/UCkBtrRwjnhS-jkPM73jplTg
• Facebookfacebook.com/towerbankintl
• LinkedInlinkedin.com/company/towerbank
• Instagraminstagram.com/towerbankintl
• TikToktiktok.com/@towerbankintl

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Towerbank