On Thursday (October 20), digital/mobile bank N26 announced that it is going to make crypto trading super easy, starting with its customers based in Austria.
Berlin-headquartered N26, which was founded in 2013 by Valentin Stalf and Maximilian Tayenthal, has a full German banking license (which it obtained in 2016), which means that it is “governed by the same laws and regulations as any other bank—and that your funds are protected up to €100,000 by the German Deposit Protection Scheme, as defined by EU guidelines.”
According to a report by Tom Matsuda for The Block, “customers in Austria will be able to trade over 100 tokens, including dogecoin, SOL, AVAX and shiba inu” and “these features will be rolled out to other markets in the coming months.”
Apparently, N26’s crypto service is implemented with the help of “APIs from Bitpanda’s white-label business that allows platforms to tap into its trading tools” and it will be available “via the trading section of the N26 app’s forthcoming ‘Finances’ tab.”
N26 Co-Founder and CEO Valentin Stalf said in the announcement:
“While cryptocurrencies have seen a decline in value over the last year, they 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.”
The report went on to point out that “Bitpanda is yet to obtain a license from Germany’s financial regulator, BaFin, meaning that the launch of N26 Crypto in its native country is currently not set in stone.”
