$9 billion European digital bank N26 has partnered with Austrian crypto trading and custody platform Bitpanda in order to offer crypto access to its customers.
N26, the Berlin-based digital bank, has formed a partnership with European crypto exchange giant Bitpanda. The coming together of the two companies will see N26 being able to offer some of its customers access to around 200 cryptocurrencies by way of the Bitpanda trading platform.
100 cryptocurrencies will be offered initially, and then the other 100 will be offered next month. The bank, which doesn’t have any physical branches given that it operates entirely online, has struggled to enter the UK and US markets, so the partnership with Bitpanda is key.
According to BNN Bloomberg, Chief Product Officer Gilles Bianrosa said in an interview:
“Investing in a market like today’s market is actually really good because it takes the fad element away. While the company will have to roll out crypto a single market at a time because of different regulations, N26’s goal is ultimately to offer the product everywhere they operate,”
In an email to Coindesk, which featured an article on the partnership, Gilles Bianrosa expanded on N26’s next steps. He said that the crypto services would only be rolled out to its customers in Austria initially, but then had plans to offer the service to customers in other, as yet unspecified, markets.
“Right now, we are focused on rolling out the product in Austria, and will incorporate feedback from this for our gradual roll out to other markets,”
The actual Bitpanda service that N26 is now using is its White Label product which will allow the bank to use Bitpanda’s trading platform with its large amount of cryptocurrencies, operational 24/7 throughout the year.
Bianrosa was extremely positive about the long term future for crypto, in spite of the current bear market it is experiencing. He stated:
“We believe that cryptocurrencies are going to continue to be a prominent part of the financial ecosystem,”
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