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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 prospects would be the first to check new functionalities by way of the N26 App, whereas different markets will probably be step by step 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 robust native demand; 40% of present neobank shoppers are taken with crypto belongings or are already actively shopping for and promoting cryptos.
N26 shoppers who are usually not 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 prospects’ wants, with options that generate income administration simple. With N26 Crypto, we now have created a easy, intuitive product that integrates seamlessly into N26’s fully-regulated banking expertise the place one’s financial institution stability, financial savings, and funding portfolio sit facet by facet – 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 just lately opened its new headquarters in Austria. Bitpanda will probably be accountable for custodian providers and trades execution.
Challenger Financial institution Tries to Catch Up with Larger Gamers
Though neobanking firms are generally related to new applied sciences and modern merchandise, N26 lags behind its rivals, 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 fee giants like Mastercard and Visa have additionally situated themselves inside the web3 trade.
The timing of N26’s determination to affix the cryptocurrency market may have been higher. Fundamental belongings 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 thrice 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 prospects 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 prospects would be the first to check new functionalities by way of the N26 App, whereas different markets will probably be step by step 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 robust native demand; 40% of present neobank shoppers are taken with crypto belongings or are already actively shopping for and promoting cryptos.
N26 shoppers who are usually not 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 prospects’ wants, with options that generate income administration simple. With N26 Crypto, we now have created a easy, intuitive product that integrates seamlessly into N26’s fully-regulated banking expertise the place one’s financial institution stability, financial savings, and funding portfolio sit facet by facet – 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 just lately opened its new headquarters in Austria. Bitpanda will probably be accountable for custodian providers and trades execution.
Challenger Financial institution Tries to Catch Up with Larger Gamers
Though neobanking firms are generally related to new applied sciences and modern merchandise, N26 lags behind its rivals, 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 fee giants like Mastercard and Visa have additionally situated themselves inside the web3 trade.
The timing of N26’s determination to affix the cryptocurrency market may have been higher. Fundamental belongings 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 thrice 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 prospects worldwide. Because the final funding spherical, it has retained its valuation of $3.5 billion.
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