Bitpanda and N26 Enter Crypto Partnership
N26, a German fintech valued at $9 billion, has partnered with Bitpanda to enable crypto trading on its mobile app. N26 Crypto will let consumers purchase and trade 200 cryptocurrencies, including Bitcoin, beginning in Austria and expanding to additional countries in the following months.
The Berlin-based fintech firm said on Wednesday that the Austrian launch addresses "high local demand", with 40% of customers actively trading or investing in cryptocurrency. N26 intends to expand its cryptocurrency trading business to significant additional markets over the next six months.
Customers who have confirmed their identification may access N26 Crypto through the "Trading" part of their app's new "Finances" section. As a result, people may purchase cryptocurrency using their fiat bank account. For standard accounts, the transaction price is fixed at 1.5% for Bitcoin and 2.5% for other currencies, with some further savings for metallic card holders.
According to N26 co-founder and co-CEO Valentin Stalf, the business sees its new offering as an entrance point for a new generation of investors who, despite recent market turmoil, are interested in digital assets.
Partnership with Bitpanda
The site runs in collaboration with Vienna-based Bitpanda GmbH, which handles transaction execution and coin custody.
In November 2021, the firm declared its plan to depart the US market and focus only on the European market. However, the corporation also ran into some issues in Europe, with the German Federal Financial Supervisory Authority (BaFin) imposing a new client cap on the company in May 2021.
Bitpanda gives more people the power to invest
This collaboration brings together two renowned DACH fintech firms with a shared goal of providing everyone with easy, safe, and convenient financial control.
N26 customers will now be able to invest in around 200 cryptocurrencies for as little as €1 with Bitpanda's White Label Solution, depending on their budget and risk tolerance.
Author: Emmanuel Baiden
7 years experience within the financial services sector most notably in Sales, Trading, research and writing articles within the crypto space. I have a bachelor's degree in International Business and a Master's in Investment and Risk Finance . I am also an associate member of the Chartered Institute for Securities and Investment.
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