Spanish Openbank to offer cryptocurrency trading

Openbank, the 100 % digital bank of Spanish financial giant Santander, announced on Tuesday its new service for buying, selling, and holding cryptocurrencies.

Customers, particularly those in Germany, will have the opportunity to perform these transactions, in addition to traditional investment portfolio operations, with Bitcoin, Ethereum, Litecoin, Polygon, and Cardano.

“The bank announced that this service will be available in Spain in a few weeks, thus expanding its coverage to one of its main markets. The new service allows users to trade cryptocurrencies directly from the Openbank platform, without the need to transfer funds to external intermediaries, with the regulatory backing of the European Regulation on Markets in Crypto-Assets (MiCA),” they stated.

According to Coty de Monteverde, Head of Crypto at the Santander Group, this initiative aims to meet the demand of the bank’s clients. “In this way, we continue to expand our comprehensive range of products and services through a fast, simple, and technologically advanced platform, backed by one of the world’s leading financial groups.”

Regarding cryptocurrency transactions, Openbank indicated that a 1.49 % commission will be applied for buying and selling, with a minimum of 1 euro per transaction. In the coming months, the bank expects to “expand its cryptocurrency portfolio and add new features, such as conversion between different cryptocurrencies.”

M.Pino

Source: observatorioblockchain

(Reference image source: Traxer on Unsplash)

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