Openbank launches secure crypto trading in Germany, offering Bitcoin, Ethereum, and more with low fees and strong regulatory support.
Openbank, the digital bank owned by Banco Santander, has launched a new crypto trading service. This service is now available to retail investors in Germany. Now customers are able to sell and purchase Bitcoin, Ethereum, Litecoin, Polygon, and Cardano. They can do it in the same platform that they are currently using to manage their other investments.
Openbank Enables Direct Crypto Trades Without Leaving Platform
This is a significant move by Openbank towards the growth of its digital services. The bank will introduce additional cryptocurrencies within the next few months. It will also introduce the same service in Spain shortly. It is also in future updates that crypto-to-crypto conversions will be implemented as per the bank.
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Notably, users would not have to move their money to another platform. Instead, they will be able to exchange the cryptocurrencies directly through the system of Openbank that is secure. Openbank does have great regulatory support since it is a branch of Santander. The platform is also guided by the European Markets in Crypto assets Regulation (MiCA) which provides investors with enhanced security.
Consequently, the German customers have a safer entry method to the crypto market. These same features will also be available to the Spanish customers in a couple of weeks.
In the long run, Openbank has ambitions to increase its crypto services. It will consist of additional coins and also offer services such as changing one crypto to another. These changes aim to satisfy the increasing demand by customers seeking increased digital asset options.
The reason behind the launch was explained by Coty de Monteverde, Head of Crypto at Grupo Santander. According to her, Openbank is responding to the needs of the customer. She claims that the site helps one invest in an easy, safe, and complete financial adventure.
AI-Powered Brokerage and Crypto Trading Drive Openbank’s Growth
The new service delivered by Openbank is very competitive in terms of fees. It only has a fee of 1.49 percent on the purchase or sale of crypto. The minimum fee is also 1 Euro per transaction. Above all, holding crypto on the platform is free of charges. This renders it to be more appealing to both small and big investors.
To date, Openbank has developed a robust online investment system. Already, the bank provides a variety of financial services in Germany. These are Robo Advisors, which is an automated investment service. It also offers access to in excess of 3,000 stocks, 3,000 mutual funds as well as greater than 2,000 ETFs.
The bank has recently introduced a new artificial intelligence-driven brokerage platform. This platform provides end-users with price targets on more than 1000 stocks in the U.S and Europe. Thus, including crypto trading will be a part of the larger digital innovation strategy of Openbank.
To sum everything up, Openbank is introducing access to crypto among the common investors. The bank is enabling an increasing number of people to learn about digital assets due to the strong regulation, competitive prices, and a reliable platform. With Spain and the addition of more crypto coins to the service, Openbank keeps solidifying its place as a digital banking and financial fintech innovation leader.
