8.6 C
New York
Sunday, November 27, 2022
Home Uncategorized N26 launches crypto trading service in Austria

N26 launches crypto trading service in Austria

German digital bank N26 has announced that it has launched ‘N26 Crypto’ in Austria. According to the bank, this is another important step in taking the N26 experience beyond everyday banking and money management.

Read also: Revolut has launched ‘Homes’ – a new holiday home rental feature

The Berlin-based bank has teamed up with Austria’s Bitpanda for the trades and custody of coins, but Bitpanda doesn’t have a license for Germany, a hurdle for N26 offering the service in its home market.

Founded in 2014 by Eric Demuth, Paul Klanschek and Christian Trummer, Bitpanda launched as a crypto-trading platform.

Over the years, it has evolved to offer all types of investment opportunities, including commission-free fractional stocks, cryptocurrencies and precious metals. Investors can commit as little as $1.

The crypto asset sector is largely unregulated in most countries and regulators have warned investors face a high risk of losses. The European Parliament is expecting to vote on groundbreaking new rules for crypto assets in December or early 2023.

“The purchase of crypto assets constitutes a high risk and may result in the loss of the money spent,” N26 said in a footnote of its announcement.

“The bank offers cryptocurrency trading only as a “wealth-building feature” – meaning clients can buy and sell tokens, but cannot transfer assets to other digital wallets. This of course has a significant impact on security and fraud prevention. The bank’s platform is a non-anonymous cryptocurrency trading system that has strict eligibility criteria beyond the bank’s existing client onboarding requirements.” said Gilles BianRosa, Chief Product Officer at N26.

Eric Demuth, Bitpanda co-founder and CEO, added, “As the industry evolves it is becoming increasingly clear that the best way for FinTech’s to truly have an impact on people’s lives is by working together.

“Bitpanda White Label, our investing-as-a-service solution, gives our B2B partners access to the whole Bitpanda infrastructure in a modular and individual way.”

Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

N26 study shows Spain has the highest savings ratio in Europe

N26 has recently analyzed the data of over 380,000 consumers in the main five European markets (Spain, Germany, Austria, France, and Italy), with the aim of discovering the saving and spending trends in 2022.

The UK Startup Atoa Payments has raised $2.2 million in a pre-seed funding round

Recently, the UK startup Atoa Payments has raised $2.2 million in a pre-seed funding round.  The interest in the...

Only 60% of fintechs are product-led according to a recent survey of 100 fintech product specialists

A recent global survey of 100 fintech product specialists from fintech brands like Wise, AMEX, and more, revealed that whilst 90% of fintechs have dedicated product teams, only 60% of them are considered to be product-led. 


It’s a well-known fact, banks that do digital transformation get more clients. Sella decided to join the number of innovators and launched...