N26, the German neobank valued at $9 billion, has launched cryptocurrency trading tools via a partnership with investment platform Bitpanda.
Customers in Austria will be able to trade over 100 tokens, including dogecoin, SOL, AVAX, and Shiba inu. According to a statement on thursday, these features will be rolled out to other markets in the coming months.
These tools are enabled through APIs from Bitpanda’s white-label business that allows platforms to tap into its trading tools. It will be available to access via the trading section of the N26 app’s forthcoming “Finances” tab.
Cryptocurrency trading is often the entry point to investing for a new generation of investors who are looking to explore ways to grow their wealth.
The Block reported in July last year that the German neobank was working with a “top-tier crypto exchange” on a new trading feature. This was initially pegged for a late 2021 release.
While N26 has over 8 million customers across Europe, many will have to wait to access the new features. Bitpanda is yet to obtain a license from Germany’s financial regulator, BaFin. This means that the launch of N26 Crypto in its native country is currently not set in stone.
“The BaFin license comes with a particularly high priority,” said a Bitpanda spokesperson. “We have been in the process of acquiring the most extensive license for some time. This is the order to create a serious and regulated environment for investments in digital assets in Germany.”
Along with Austrian regulatory approval, Bitpanda is also registered with the French, Italian, Swedish and Spanish regulatory authorities — key markets for N26.