- Openbank launches crypto trading in Germany.
- Supported cryptocurrencies: Bitcoin, Ethereum, Litecoin, Polygon, Cardano.
- Future expansion to Spain in response to customer demand.
Santander’s digital bank Openbank has initiated crypto trading in Germany, integrating five major cryptocurrencies into their platform, with plans to expand services to Spain soon.
This move under MiCA regulation could reshape how European clients engage with crypto, offering straightforward access without third-party platforms, potentially boosting regulated retail cryptocurrency adoption.
Openbank, the digital arm of Santander, has launched crypto trading in Germany. This move happens under the European MiCA regulation and aims to streamline crypto access for customers alongside existing investment options.
Openbank integrates crypto into its platform, offering Openbank Launches Cryptocurrency Trading in Germany, Spain Coming Soon Bitcoin, Ethereum, Litecoin, Polygon, and Cardano. The service will extend to Spain soon, addressing customer demand as stated by Coty de Monteverde, Santander’s Head of Crypto.
The launch provides customers with direct crypto access without third-party involvement, potentially influencing crypto market dynamics. Custodial trading within Openbank’s platform may gradually shift trading volumes as adoption grows.
Financial implications include a transaction fee of 1.49% per trade, with a minimum of €1. The absence of custody fees further positions this offering competitively, encouraging retail adoption within a regulated framework.
The launch echoes Santander’s earlier crypto initiatives, including their Ripple-powered payments. These efforts are designed to engage the regulated crypto environment and align with evolving customer expectations.
Regulatory outcomes could include increased EU-wide crypto service passporting, following Openbank’s MiCA license acquisition. Historical trends suggest custodial trading integration catalyzes gradual market access increases, potentially influencing retail crypto exposure.
Coty de Monteverde, Head of Crypto, Grupo Santander, highlighted: “By incorporating the main cryptocurrencies into our investment platform, we are responding to the demand of some of our customers.”
