Openbank, the digital bank of Grupo Santander, announced the launch of a crypto buying, selling, and custody service for clients in Germany. In the coming weeks, the service will also become available to users in Spain.
Clients of Openbank, the digital arm of one of Europe’s largest banks, can now trade BTC, ETH, LTC, POL, and ADA without moving assets outside the ecosystem or relying on third-party platforms for exchange.
The new service charges a 1.49% transaction fee, with a minimum of €1 per operation. No custody fees will be applied. In the future, the list of available cryptocurrencies will be expanded, along with the introduction of digital asset swaps without involving fiat currency.
The option is currently available to all Openbank customers in Germany and will soon be extended to clients in Spain. The bank provides full process support and regulatory guarantees in line with the European MiCA framework.
According to Coty de Monteverde, Head of Crypto at Grupo Santander, the launch is designed to meet growing customer demand and strengthen Openbank’s position in the investment market.
Openbank offers clients a wide range of tools and services. The bank provides access to an automated Robo Advisor, more than 3,000 stocks, 3,000 investment funds from 123 management companies, and over 2,000 ETFs. Recently, Openbank launched a brokerage platform with AI-powered tools that can generate target valuations for more than 1,000 European and U.S. stocks.
Recently, PayPal and Venmo users in the U.S. gained the ability to use cryptocurrencies for P2P payments, while BBVA’s retail customers in Spain were granted access to digital assets through their bank accounts thanks to a partnership with Ripple.
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