N26, the German neobank headquartered in Berlin, introduced on Thursday the launch of a brand new cryptocurrency buying and selling product dubbed N26 Crypto. Austrian clients would be the first to check new functionalities by way of the N26 App, whereas different markets might be step by step added within the upcoming months.
N26 Crypto gives entry to virtually 200 cryptocurrencies , together with the largest names within the crypto business. Firm officers have confirmed that the latest launch addresses robust native demand; 40% of present neobank purchasers are concerned about crypto property or are already actively shopping for and promoting cryptos.
N26 purchasers who usually are not Austrian residents are being requested to be affected person, as new jurisdictions and markets might be introduced within the subsequent six months.
“The N26 banking expertise has at all times been constructed across the clients’ wants, with options that make cash administration straightforward. With N26 Crypto, we’ve created a easy, intuitive product that integrates seamlessly into N26’s fully-regulated banking expertise the place one’s financial institution stability, financial savings, and funding portfolio sit aspect by aspect – with cryptocurrencies being the primary asset class we intend to supply,” Gilles BianRosa, the Chief Product Officer at N26, stated.
The cryptocurrency providing was ready by a partnership with the crypto firm, Bitpanda GmbH, which not too long ago opened its new headquarters in Austria. Bitpanda might be answerable for custodian providers and trades execution.
Challenger Financial institution Tries to Catch Up with Larger Gamers
Though neobanking corporations are generally related to new applied sciences and modern merchandise, N26 lags behind its rivals, even the extra conventional ones, as a latecomer to the latest crypto rush.
Fintech corporations like Revolut and PayPal added cryptos to their providing a very long time in the past, whereas fee giants like Mastercard and Visa have additionally positioned themselves inside the web3 business.
The timing of N26’s resolution to hitch the cryptocurrency market may have been higher. Foremost property have been falling for the final 12 months, and year-to-date, shedding greater than 50%. Bitcoin (BTC), the oldest and the largest crypto asset, is at the moment buying and selling at round $19,000, whereas in October 2021, its worth was 3 times larger.
N26 was based in 2013 and launched its first product in 2015. At the moment, the agency operates in additional than 25 markets, servicing 5 million clients worldwide. Because the final funding spherical, it has retained its valuation of $3.5 billion.
N26, the German neobank headquartered in Berlin, introduced on Thursday the launch of a brand new cryptocurrency buying and selling product dubbed N26 Crypto. Austrian clients would be the first to check new functionalities by way of the N26 App, whereas different markets might be step by step added within the upcoming months.
N26 Crypto gives entry to virtually 200 cryptocurrencies , together with the largest names within the crypto business. Firm officers have confirmed that the latest launch addresses robust native demand; 40% of present neobank purchasers are concerned about crypto property or are already actively shopping for and promoting cryptos.
N26 purchasers who usually are not Austrian residents are being requested to be affected person, as new jurisdictions and markets might be introduced within the subsequent six months.
“The N26 banking expertise has at all times been constructed across the clients’ wants, with options that make cash administration straightforward. With N26 Crypto, we’ve created a easy, intuitive product that integrates seamlessly into N26’s fully-regulated banking expertise the place one’s financial institution stability, financial savings, and funding portfolio sit aspect by aspect – with cryptocurrencies being the primary asset class we intend to supply,” Gilles BianRosa, the Chief Product Officer at N26, stated.
The cryptocurrency providing was ready by a partnership with the crypto firm, Bitpanda GmbH, which not too long ago opened its new headquarters in Austria. Bitpanda might be answerable for custodian providers and trades execution.
Challenger Financial institution Tries to Catch Up with Larger Gamers
Though neobanking corporations are generally related to new applied sciences and modern merchandise, N26 lags behind its rivals, even the extra conventional ones, as a latecomer to the latest crypto rush.
Fintech corporations like Revolut and PayPal added cryptos to their providing a very long time in the past, whereas fee giants like Mastercard and Visa have additionally positioned themselves inside the web3 business.
The timing of N26’s resolution to hitch the cryptocurrency market may have been higher. Foremost property have been falling for the final 12 months, and year-to-date, shedding greater than 50%. Bitcoin (BTC), the oldest and the largest crypto asset, is at the moment buying and selling at round $19,000, whereas in October 2021, its worth was 3 times larger.
N26 was based in 2013 and launched its first product in 2015. At the moment, the agency operates in additional than 25 markets, servicing 5 million clients worldwide. Because the final funding spherical, it has retained its valuation of $3.5 billion.
