German neobank N26 on Thursday announced it is launching a new cryptocurrency trading product N26 Crypto. The product is first introduced in Austria and made available in other markets in the upcoming months.
N26 crypto offers nearly 200 cryptocurrencies. According to the Berlin-headquartered bank, the new product responds to a strong local demand with 40% of users are interested in crypto assets or are already actively buying and selling cryptos.
The new crypto product will be rolled out key markets in stages over the next 6 months, the mobile bank said.
Gilles BianRosa, the 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 crypto is offered in partnership with crypto company, Bitpanda GmbH, with headquarters in Austria. Bitpanda will manage the execution of trades and custody of coins.
Meanwhile, other Fintech companies like Revolut and PayPal have already added cryptocurrencies to their offering a long time ago, as well as payment giants like Mastercard and Visa.
