German Bank N26 Expands Crypto Trading Service

German online bank N26 announced an expansion of its crypto trading services to 5 new European markets.

N26 expands cryptocurrency services branch two 5 new European markets. Source: Unsplash

The German online bank N26 has just announced that countries serviced by its cryptocurrency banking branch now include Germany, Switzerland, Belgium, Portugal, and Ireland. Prior to this, N26 only offered crypto trading to its Austrian customers.

N26 is a German ‘neobank’ that prioritises security and simplicity. Its branch — N26 Crypto — allows users to trade digital currencies with ease.

N26 Crypto allows users to trade digital assets without setting up a crypto wallet, directly in the app. All coins purchased by users are stored in a custodial storage by Bitpanda GmbH. N26 Crypto is powered by Bitpanda GmbH, an Austrian-based financial technology company that offers a platform for trading cryptocurrencies. Currently, N26 Crypto is only available via their app on mobile devices.

Almost 200 coins and tokens are available for trading and purchase. N26 Crypto also features convenient portfolio management tools, all for adequate fees.

Of the cryptocurrency market, N26’s CEO and co-founder, Valentin Stalf, said,

“Market fluctuations aside, cryptocurrencies continue to remain a requested and interesting asset class for investors and a growing part of the financial system. Cryptocurrency trading is often the entry point to investing for a new generation of investors who are looking to explore ways to grow their wealth.”

N26’s Crypto branch already has €6 billion under its management, and plans to expand the list of countries where trading and portfolio management are available.

As for the bank’s KYC and AML failings of 2021, N26’s Head of Anti-Financial Crime assures that all weaknesses have been resolved.