The German neobank N26 will add in the coming months the ability to trade around 200 digital assets in its app. The startup will use Bitpanda’s solution under its own brand, CoinDesk reports.
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The ability to withdraw cryptocurrencies to external wallets is not offered.
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Gille Biarnosa, the chief product officer, explained that the solution would help deter fraud and establish high security standards.
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According to the executive, the platform is a ‘non-anonymous crypto-trading system’ that has ‘strict admission criteria’ in addition to the bank’s existing KYC-requirements.
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Biarnosa stressed that N26 is building long-term plans for digital assets that will remain an important part of the financial ecosystem.
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Initially the crypto-trading service will be available to clients in Austria. The company did not specify which countries would be included in the expansion going forward.
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In 2020, media reported that N26 was considering a takeover of Bitpanda shortly before the crypto exchange’s valuation of $4.1 billion.
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Earlier in July 2021, the neobank launched a development hub to integrate the ability to trade digital assets within the app.
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