German Fintech N26 Launches Crypto Trading Product Dubbed N26 Crypto

German Fintech N26 Launches Crypto Trading Product Dubbed N26 Crypto

N26 Crypto offers crypto trading services with around 200 cryptocurrencies.

N26, a Berlin-based German digital bank established in 2013, has launched a cryptocurrency trading product dubbed N26 Crypto.

According to press release shared on October 20th, the crypto product, located in the company’s mobile app, allows customers to buy and sell around 200 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and Solana (SOL).

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

How Do KYC & AML Work in Crypto? (Explained)

How Do KYC & AML Work in Crypto? (Explained) How Do KYC & AML Work in Crypto? (Explained)

In its announcement, the company noted that the product is initially available only in Austria. Over the next six months, crypto trading services are expected to reach other “key markets.”

N26 noted that it chose Austria for its initial launch, as it has strong local demand  “where 40% of N26 users are either actively trading, or have expressed interest in investing in cryptocurrencies.”

When talking about the newest company’s product, N26 Chief Product Officer Gilles BianRosa, noted:

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.

Before starting to trade on N26 app, users must pass identity verification and eligibility checks. According to the company, N26 Crypto offers “a smooth and secure sign-up process, full in-app integration, and <...> clear visualizations of a customer's crypto portfolio.”

N26 co-founder and Co-CEO Valentin Stalf highlighted that despite volatile market conditions, cryptocurrencies remain of great interest to investors. 

While cryptocurrencies have seen a decline in value over the last year, they remain a requested and interesting asset class for investors and a growing part of the financial system. Cryptocurrency trading is often the entry point to investing for a new generation of investors who are looking to explore ways to grow their wealth. With N26 Crypto, we are offering a simple way to trade and invest, with a great user experience and low and transparent fees.

However, while one German company celebrates its expansion, the other is ready to close its doors. On October 18th, Berlin-based blockchain bank Nuri announced that the company is closing its services due to liquidity issues and the inability to find a potential investor.

Gile K. - Crypto Analyst

by Gile K. - Crypto Analyst, BitDegree