German digital bank N26 has announced that it is increasing the number of countries where its customers are allowed to trade cryptocurrencies, adding Germany, Switzerland, Belgium, Portugal and Ireland to the list.
“Eligible N26 customers in these markets will soon be able to trade nearly 200 cryptocurrencies – more than with any other European banking app,” the online bank said in a statement. statement.
“With over €6 billion in client account deposits, N26 Crypto aims to help its clients manage more aspects of their finances as a first step into the trading and investing space,” according to N26.
Last year, in an effort to expand its clients’ exposure to crypto in select European markets, the digital bank allowed its clients in Austria to trade crypto. N26 was established in 2013 and is based in Berlin, the German capital.
“Market fluctuations aside, cryptocurrencies continue to remain a demanded and attractive asset class for investors and a growing part of the financial system. “investment for a new generation of investors looking to explore ways to grow their wealth. With N26 Crypto, we offer an easy way to trade and invest, with a great user experience and low, transparent fees,” said Valentin Stalf, co-founder and co-CEO of the bank.
N26 says it runs its operations on the basis of a full German banking license granted in 2016, through which its customers can open bank accounts with a German iBAN and protected up to €100,000 ($108,000 ) by the German Deposit Protection System, in accordance with European Union directives.
N26’s services are used by more than 8 million customers in 24 markets around the world, according to data from the German bank. N26 customers can also get a virtual Mastercard linked to their account.
In October 2022, Bitpanda announced that it had partnered with the digital bank to provide its customers with access to crypto trading. This partnership paved the way for a collaboration between two major fintechs from the German-speaking DACH region of Europe.
“Thanks to Bitpanda’s White Label solution, it is now possible for N26 users to invest in almost 200 cryptocurrencies from just €1, depending on their budget and risk appetite”, announce the announcement. said. Bitpanda said it was “excited to join N26 for its next step, as we offer Bitpanda’s digital investment infrastructure to help more people experience the world of crypto investing the way it should be: simple, fast, secure and at your fingertips”.