December 01, 2022




Home Cryptocurrency News Cellular financial institution N26 launches cryptocurrency buying and selling with Bitpanda partnership – Cointelegraph

Cellular financial institution N26 launches cryptocurrency buying and selling with Bitpanda partnership – Cointelegraph

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N26 Crypto is already obtainable for Austrian clients and is deliberate to be rolled out in different key markets.

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The $9 billion-valuated German fintech N26 launched crypto buying and selling on its cellular app. Ranging from Austria and rolling out to different international locations within the upcoming months, N26 Crypto will let its clients purchase and promote 200 cryptocurrencies, together with Bitcoin (BTC) and Ether (ETH).

The Berlin-based fintech announced on Oct. 20 that the launch in Austria addresses “sturdy native demand,” with 40% of N26 customers both actively buying and selling or having expressed curiosity in investing in cryptocurrencies. N26 plans to roll out its crypto buying and selling service to different key markets within the subsequent six months.

N26 clients with a verified identification can entry N26 Crypto from the “Buying and selling” part inside their N26 app’s new “Funds” tab. Thus, they’ll purchase crypto from their fiat checking account. The transaction charge is ready at 1.5% for BTC and a couple of.5% for different currencies for the standard accounts with some further reductions for N26 metallic card holders.

Associated: German crypto bank Nuri tells 500K users to withdraw funds ahead of shutdown

Based on N26 co-founder and co-CEO Valentin Stalf, the corporate sees its new product as an entry level for a brand new era of buyers, who’re concerned about digital belongings regardless of the latest market upsets:

“Whereas cryptocurrencies have seen a decline in worth during the last yr, they continue to be a requested and fascinating asset class for buyers and a rising a part of the monetary system.”

The platform is maintained in a partnership with Vienna-based Bitpanda GmbH, which manages the execution of trades and custody of cash. 

In November 2021, N26 announced its exit from the US market and the intention to focus completely on the European market. Nonetheless, the corporate confronted some issues in Europe, too, with the German Federal Monetary Supervisory Authority (BaFin) implementing the brand new buyer cap on the corporate in Might 2021.

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