The German neo-bank N26 finally enters the cryptocurrency market, several years after its rival Revolut. This new service launched as a white label with the Bitpanda platform will only be available in Austria before being deployed in other countries, including France.
Cryptocurrencies land on N26
The customers of the neo-bank N26 had been waiting for it for a long time. Thanks to a partnership with the Austrian platform Bitpanda, N26 launches cryptocurrency trading tools.
Starting today, customers in Austria are able to buy, sell and trade over 100 cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE) or again the AVAX of Avalanche.
In terms of fees, N26 charges its customers 1.5% for Bitcoin transactions et 2.5% for all other cryptocurrencies. This corresponds to the same fees as on Bitpanda. For holders of the N26 Metal offerthey will pay respectively 1% and 2% transaction fees on Bitcoin and other cryptocurrencies.
Valentin Stalf, CEO of N26, believes that cryptocurrencies “remain a demanded and attractive asset class for investors and a growing part of the financial system”, despite the fact that these have experienced a decline in value during the bear market that we are going through. He adds :
“Cryptocurrency trading is often the entry point to investing for a new generation of investors looking to explore ways to grow their wealth. »
In its press release, N26 specifies that this service will be rolled out to other markets in the coming months. Thus, Bitpanda being also registered as a PSAN with the Autorité des marchés financiers (AMF), the launch of this new service in France will not be long in coming.
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Other features to come on N26?
This is not the first time that Bitpanda has managed to partner with a startup to bring cryptocurrencies to its customers. In November 2021, the French “super-app” Lydia has integrated Bitpanda’s trading solutions into its app.
In addition to cryptocurrencies and thanks to Bitpanda, Lydia also offers company stocks and ETFs. Thus, N26 could follow in Lydia’s footsteps and add more assets to its offering in the near future.
Whatever, this initiative by N26 could give it a second wind against its rival Revolut regarding the cryptocurrency market. Indeed, the latter has already implemented services related to crypto-assets for several years now and still has a good lead over its competitor.
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image source: N26
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Editor-in-chief of Cryptoast, I discovered Bitcoin and blockchain technology in 2017. Since then, I have been striving to share quality content so that the sector becomes more democratic for everyone.
Clement Wardzala
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