Santander's digital offering Openbank has begun letting its German customers buy, sell and hold cryptocurrency.
Users can trade Bitcoin, Ether, Litecoin, Polygon and Cardano, with other options set to follow, covered by the guarantees and investor protection provided by the European Markets in Crypto-Assets Regulation.
The service will be expanded to customers in Spain in the coming weeks, while Openbank is also set to roll out more functionalities, such as conversion between different cryptocurrencies. The bank is charging 1.49% on asset sale and purchases (with a minimum of €1 per operation) and no custody fees.
"By incorporating the main cryptocurrencies into our investment platform, we are responding to the demand of some of our customers and continue to strengthen a broad range of products and services through an agile, simple technology platform backed by one of the world’s leading financial groups," says Coty de Monteverde, head, crypto, Grupo Santander.