N26 Expands Crypto Trading in Germany, Switzerland and Ireland

N26 said it will offer cryptocurrency products to customers in Germany, Switzerland, Belgium, Portugal and Ireland, starting with Austria as its first market in 2022. The service, called N26 Crypto, will be available to clients in these countries within the next six months and will initially include over 100 digital tokens.

N26 customers are required to complete identity and eligibility checks before accessing cryptocurrency trading in the app’s Finance tab.

With more than €6 billion in customer accounts, Challenger Bank plans to roll out this feature to users in other European markets. Ultimately, we plan to expand our token offering to almost 200 cryptocurrencies.

Gilles BianRosa, Chief Product Officer of N26, said: With N26 Crypto, we have created a simple and intuitive product that seamlessly integrates into N26’s fully regulated banking experience. Bank balances, savings, and investment portfolios line up here. Cryptocurrencies are the first asset class we offer. “

Valentin Stalf, co-founder and co-CEO of N26, said the company was not a latecomer to the cryptocurrency rush because it remains a demanding and interesting asset class. Cryptocurrencies were in the red throughout 2022 as investors fled the market amid concerns over rising and liquidity constraints.

“Market volatility aside, cryptocurrencies continue to be a sought-after and interesting asset class for investors and a growing part of the financial system. It’s a gateway to investing for a new generation of investors.”

Behind the scenes, N26’s cryptocurrency is powered by Bitpanda, which handles the trading and storage of digital assets. Founded in 2014, BitPanda is a retail brokerage of crypto assets, including over 30 cryptocurrencies. The company claims he has registered over 2.5 million users, with expansion already underway in France, Spain and Turkey, and plans to expand to real-world assets to build a pan-European offering. am.