German Digital Bank N26 to Offer Crypto Trading in Austria Via Bitpanda

With 40% of digital bank members either actively dealing in cryptocurrencies or expressing interest in doing so, the debut in Austria aims to satisfy high local demand. The online bank intends to expand its cryptocurrency trading services to major markets in the upcoming six months.

N26 Employs Trading and Custodial Infrastructure

With up to 200 cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and Ripple (XRP) available for trade, the N26 will use the trading and custodial infrastructure of the Austrian cryptocurrency exchange Bitpanda.

The bank is employing Bitpanda's White Label solution, which is also utilized by an Italian financial service provider, to enable fintechs or banks to access Bitpanda's 24/7 trading system with hundreds of cryptocurrencies.

Low Transaction Charges For Regular Accounts

Users of the digital bank who have their identities confirmed may access N26 Crypto via the "Trading" portion of the application's new "Finances" menu. Therefore, people may purchase cryptocurrency using their fiat bank account. For regular accounts, the transaction charge is set at 1.5% for Bitcoin and 2.5% for other currencies, with further reductions available to owners of N26 metallic cards.

Trading via Bank's Wealth-Building Function

N26's chief product officer, Gilles BianRosa, stated that customers can purchase, trade, and exchange tokens using the bank's wealth-building function but cannot move their funds to other digital wallets.

Co-founder and co-CEO of N26 Valentin Stalf assert that despite recent economic turbulence, a new generation of investors is fascinated by digital assets and that the firm considers its new product as a launching pad for them. The platform is kept up-to-date through a collaboration with Vienna-based Bitpanda GmbH, which oversees transaction execution and coin custody.