An entry point – German neobank N26 offers cryptocurrency trading to its Austrian customers thanks to a partnership with a crypto platform based in Vienna, Austria.
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From announcement to realization: N26’s first steps in crypto trading
According to an October 20 statement, Austrian N26 customers can now trade more than 100 cryptocurrenciesincluding Dogecoin (DOGE), Shiba Inu (SHIB) and Solana (SOL).
The company collaborates in this context with the Bitpanda crypto platform, whose API makes it possible to operate the crypto trading tools launched by N26. They will be available in the trading section of the “Finances” tab of the German neobank application.
Last July, a spokesperson for N26 told The Block media that the company was working with “ leading crypto exchanges “. He had not disclosed the names of these partners.
In an article dated June 21, 2021, German media Finance FWD had indicated that N26 customers will be able to trade bitcoins and other cryptos by the end of last year.
The project was finally realized with a few months’ delay, and the Austrian customers are the pioneers. However, N26 plans to roll out the trading features for other countriesin the coming months.
Neobanken, which has more than 8 million customers in Europe, will thus in the long run contribute to a significant increase in the adoption of cryptocurrencies on the old continent. The CEO of N26, Valentin Stalf, has also presented crypto trading as being:
“The entry point to investing for a new generation of investors looking to explore ways to grow their wealth.”
Neobanks have begun a race to become Bitcoin giants. In fact, N26 is opening up crypto trading for Austrian customers, and Revolut is gradually enriching its offer in this area.
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