N26, the Germany-based digital bank, is expanding its cryptocurrency trading product across Europe.
Launched in Austria last year, N26 Crypto will be made available to customers in Germany, Switzerland, Belgium, Portugal and Ireland.
Almost 200 cryptocurrencies are available to buy on the N26 app, where it is being rolled out over the next few weeks.
N26 has partnered with Bitpanda for the product, which manages the execution of trades and custody of coins.
Gilles BianRosa, chief product officer at N26, commented: “The N26 banking experience has always been built around the customers’ needs, with features that make money management easy.
“With N26 Crypto we have created a simple, intuitive product that integrates seamlessly into N26’s fully-regulated banking experience where one’s bank balance, savings, and investment portfolio sit side by side—with cryptocurrencies being the first asset class we intend to offer.”
N26 co-founder and co-chief executive officer Valentin Stalf added: “Market fluctuations aside, cryptocurrencies continue to remain a requested and interesting asset class for investors and a growing part of the financial system.
“Cryptocurrency trading is often the entry point to investing for a new generation of investors who are looking to explore ways to grow their wealth. With N26 Crypto, we are offering a simple way to trade and invest, with a great user experience and low and transparent fees.”
N26’s confidence in cryptocurrencies is in contrast to a lot of recent news, which shows crypto companies have been under heavy fire.
Authorities recently seized cryptocurrency exchange Bitzlato and arrested its co-founder for processing £567m in illicit funds.
And Sam Bankman-Fried and his company, FTX, are still under investigation after its meltdown last November.