Santander’s digital banking platform, Openbank, has launched a new feature allowing its German customers to buy, sell, and hold cryptocurrencies.
Clients can now trade a selection of cryptocurrencies, including Bitcoin, Ether, Litecoin, Polygon, and Cardano, with plans to introduce additional options in the future. This service operates under the protections offered by the European Markets in Crypto-Assets Regulation, ensuring investor security.
In the upcoming weeks, Openbank will extend this service to its customers in Spain and introduce further functionalities, such as the ability to convert between various cryptocurrencies. The bank charges a 1.49% fee on asset transactions, with a minimum fee of €1, while eliminating custody fees.
Coty de Monteverde, head of crypto at Grupo Santander, emphasized the move’s significance: “By integrating the major cryptocurrencies into our investment platform, we are addressing our customers’ growing interest and enhancing our comprehensive suite of products and services through an agile and user-friendly technology platform backed by one of the world’s leading financial institutions.”