European-based online bank N26 is launching new cryptocurrency products by partnering with Bitpanda. There will be 100 different cryptocurrencies on the list, including AVAX and SHIB.
N26 and Bitpanda collaboration
German bank N26, worth $9 billion, is preparing new products in partnership with the cryptocurrency exchange Bitpanda. Starting today, customers in Austria will be able to transact with more than 100 tokens, including AVAX and SHIB, according to the announcement made on Thursday. These features are planned to be rolled out to other markets in the coming months.
We’re excited to announce that we won the largest digital bank in continental Europe as Bitpanda White Label partner: @N26! This will give eligible customers instant access to almost 200 crypto assets.
Learn more about this exciting news: https://t.co/mPj9Q6M8aE
— Bitpanda (@bitpanda) October 20, 2022
These tools will be enabled through Bitpanda’s APIs that are platform specific. The N26 app will offer new services and tools for its customers from the forthcoming “Finances” tab. N26 CEO Valentin Stalf noted in his statements about the collaboration that this is on demand from customers:
Although cryptocurrencies have seen a decline in value over the past year, they remain an in-demand and interesting asset class for investors and a growing part of the financial system. Cryptocurrency transactions are often the entry point to invest in a new generation of investors who want to explore ways to grow their wealth.
SHIB, AVAX and others will start their first operations in Austria
The German bank reported in July that it is working with a “top crypto exchange” for its new services. Now, although the partnership has been officially announced, its users have to wait for a while. However, Bitpanda has not yet received a license from Germany’s financial regulator, BaFin. This means that the bank’s launch of crypto products in its home country is currently uncertain. A Bitpanda spokesperson says work for the BaFin license is ongoing:
The BaFin license has a particularly high priority. We have been in the process of obtaining the most comprehensive license for some time to create a serious and regulated environment for investments in cryptocurrencies in Germany.
Besides Austrian regulatory approval, Bitpanda is also registered with French, Italian, Swedish and Spanish regulatory authorities, which are key markets for N26. The fact that the cryptocurrency exchange offers new features despite the current market conditions shows that it wants to push the limits in this field.
about N26
German neobank N26 is an online bank worth $9 billion. It does not have branches like a traditional bank. At the same time, it only allows cash transactions through ATMs. Its founders, Max and Valentin, founded the company in 2013 to set a new standard in the banking industry. The bank now wants to facilitate its customers’ cryptocurrency transactions through its partnership with Bitpanda. As you follow on Kriptokoin.com, we have seen a similar cooperation in this area from Mastercard.
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