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HomeCryptocurrencyNeobank N26 Launches Crypto Buying and selling Product

Neobank N26 Launches Crypto Buying and selling Product

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 through the N26 App, whereas different markets will probably be steadily added within the upcoming months.

N26 Crypto affords entry to virtually 200 cryptocurrencies , together with the largest names within the crypto trade. Firm officers have confirmed that the most recent launch addresses sturdy native demand; 40% of present neobank shoppers are considering crypto property or are already actively shopping for and promoting cryptos.

N26 shoppers who aren’t Austrian residents are being requested to be affected person, as new jurisdictions and markets will probably be introduced within the subsequent six months.

“The N26 banking expertise has all the time been constructed across the clients’ wants, with options that earn a living administration simple. With N26 Crypto, now we have created a easy, intuitive product that integrates seamlessly into N26’s fully-regulated banking expertise the place one’s financial institution steadiness, 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, mentioned.

The cryptocurrency providing was ready by a partnership with the crypto firm, Bitpanda GmbH, which lately opened its new headquarters in Austria. Bitpanda will probably be chargeable for custodian companies and trades execution.

Challenger Financial institution Tries to Catch Up with Larger Gamers

Though neobanking firms are generally related to new applied sciences and progressive merchandise, N26 lags behind its opponents, even the extra conventional ones, as a latecomer to the current crypto rush.

Fintech firms like Revolut and PayPal added cryptos to their providing a very long time in the past, whereas cost giants like Mastercard and Visa have additionally positioned themselves throughout the web3 trade.

The timing of N26’s resolution to affix the cryptocurrency market might have been higher. Primary property have been falling for the final 12 months, and year-to-date, dropping 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 value was 3 times larger.

N26 was based in 2013 and launched its first product in 2015. At present, 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 through the N26 App, whereas different markets will probably be steadily added within the upcoming months.

N26 Crypto affords entry to virtually 200 cryptocurrencies , together with the largest names within the crypto trade. Firm officers have confirmed that the most recent launch addresses sturdy native demand; 40% of present neobank shoppers are considering crypto property or are already actively shopping for and promoting cryptos.

N26 shoppers who aren’t Austrian residents are being requested to be affected person, as new jurisdictions and markets will probably be introduced within the subsequent six months.

“The N26 banking expertise has all the time been constructed across the clients’ wants, with options that earn a living administration simple. With N26 Crypto, now we have created a easy, intuitive product that integrates seamlessly into N26’s fully-regulated banking expertise the place one’s financial institution steadiness, 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, mentioned.

The cryptocurrency providing was ready by a partnership with the crypto firm, Bitpanda GmbH, which lately opened its new headquarters in Austria. Bitpanda will probably be chargeable for custodian companies and trades execution.

Challenger Financial institution Tries to Catch Up with Larger Gamers

Though neobanking firms are generally related to new applied sciences and progressive merchandise, N26 lags behind its opponents, even the extra conventional ones, as a latecomer to the current crypto rush.

Fintech firms like Revolut and PayPal added cryptos to their providing a very long time in the past, whereas cost giants like Mastercard and Visa have additionally positioned themselves throughout the web3 trade.

The timing of N26’s resolution to affix the cryptocurrency market might have been higher. Primary property have been falling for the final 12 months, and year-to-date, dropping 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 value was 3 times larger.

N26 was based in 2013 and launched its first product in 2015. At present, 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.

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