Crypto trading service debuts from Openbank
Openbank Expands Cryptocurrency Trading Service to Spain
Openbank, the 100% digital bank owned by Grupo Santander, has announced that it will be expanding its cryptocurrency trading service to customers in Spain in the coming weeks. This move follows the successful launch of the service in Germany earlier this year.
The new service will allow customers to buy, sell, or hold Bitcoin, Ether, Litecoin, Polygon, and Cardano alongside their other investments. There are no custody fees associated with the service, and competitive fees of 1.49% on asset sales and purchases (with a minimum of €1 per operation) will apply.
This expansion of Openbank's product offering is backed by Grupo Santander and comes with the guarantees and investor protection provided by the European Markets in Crypto-Assets Regulation (MiCA). The service is only available to Openbank customers at the moment, but the bank plans to expand its portfolio of available cryptocurrencies over the coming months.
In addition to the cryptocurrency trading service, Openbank offers a portfolio of more than 3,000 stocks and 3,000 investment funds from over 123 asset managers. The bank also provides an automated investment service, Robo Advisor, and has recently launched a broker platform equipped with artificial intelligence-based tools that deliver target prices for more than 1,000 European and US stocks.
Coty de Monteverde, the Head of Crypto at Grupo Santander, commented on the expansion, saying, "We are excited to bring our cryptocurrency trading service to Spain. We believe that this will provide our customers with a convenient and secure way to invest in the growing cryptocurrency market."
The rollout of the service in Spain is planned for the near future, but no exact date has been specified. Customers in Spain can look forward to trading cryptocurrencies on Openbank's platform in a few weeks.
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