Customers can now use N26 Crypto in Germany, Switzerland, Belgium, Portugal, and Ireland.
Even though the prices of cryptocurrencies have decreased over the past year, the neobank N26 is expanding its crypto trading to five new markets.
After launching in Austria last October, N26 Crypto is now available to customers in Germany, Switzerland, Belgium, Portugal, and Ireland as part of a gradual rollout.
Bitpanda, an Austrian fintech company, helped N26 build the crypto trading feature. Bitpanda also handles the execution and storage of trades for N26.
There are almost 200 coins and tokens to choose from and tools for managing your portfolio. This costs between 1% and 2.5%, depending on the tokens being traded and whether or not a customer subscribes to N26 Metal.
Valentin Stalf, co-CEO and co-founder of N26, 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 looking to explore ways to grow their wealth.”
When talking about other ways to make money, Gilles BianRosa, N26’s chief product officer and the person in charge of making N26 Crypto, hinted that Crypto is just the first investment asset N26 wants to offer.
“With N26 Crypto, we have created a simple, intuitive product that integrates seamlessly into N26’s fully-regulated banking experience where one’s bank balance, savings, and investment portfolio sit side by side – with cryptocurrencies being the first asset class we intend to offer.”
Finance Forward said last year that N26 had planned to buy Bitpanda to improve its cryptocurrency trading feature.
Insiders say that the deal fell through quickly and that the two fintechs instead decided to work together.
Over the Christmas break, N26’s leadership team announced several changes, including the departure of its chief financial officer and interim chief operating officer. Co-founder and co-CEO Maximilian Tayenthal took over as COO and started looking for a new CFO.
