A Germany-based fintech company, N26, has enabled the trading of cryptocurrency on its application that runs on mobile. The platform is beginning with its launch in Austria and will keep on expanding in the rest of the countries during the next months. The consumers of N26 will be permitted by it to sell as well as purchase up to 200 cryptocurrencies, taking into account Ether (ETH) and Bitcoin (BTC).
Germany-Based N26 Releases Crypto Trading through Its N26 Crypto Venue
The fintech, which is based in Berlin, declared that the release in Austria focuses on a resilient demand from the local masses. Forty percent of the consumers are either vigorously trading or showing interest in crypto investments. N26 intends to launch the crypto trading facility to cope with the rest of the well-known markets during the upcoming 6 months.
The consumers of N26 with a valid identity are allowed to reach to N26 Crypto venue through the “Trading” segment of their traditional bank accounts. The transfer fee is placed at 1.5% in the case of Bitcoin (BTC) while 2.5% for the rest of the currencies for normal accounts. Some additional discounts would be provided to those who hold a metallic card of N26.
As per Valentin Stalf, the co-CEO and co-founder of N26, the firm witnesses its latest product as an entree mark for the investors’ latest generation which has a great interest in digital assets notwithstanding the recent abruptions across the market.
He added that while crypto has gone through a value drop during the previous times, it is even now the most demanded asset class in the eyes of the investors and also an advancing proportion of the whole system of finance.
N26 Collaborates with Bitpanda and German Regulator Hinders Its Advancement
The venue is carrying out a collaboration with Bitpanda GmbH (that is based in Vienna), a company that provides the management facilities for the trade execution as well as the tokens’ custody. In November of the previous year, it was declared by N26 that it would quit the European market.
Nonetheless, the firm experienced a few issues within the respective jurisdiction. This happened because the Germany-based financial regulatory agency named Federal Financial Supervisory Authority (BaFin) enforced the unique consumer cap on the firm in May of the previous year.
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