Openbank to Offer Crypto Trading Services in Germany

Openbank, the digital bank supported by Santander Group, has launched its new cryptocurrency trading service. According to a press release, customers in Germany can now easily buy, sell, and hold cryptocurrencies directly in their Openbank accounts. This means customers do not need to transfer money to other platforms.

Openbank Crypto Trading Services and Benefits

With this launch, users can trade popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Polygon (MATIC), and Cardano (ADA). Interestingly, this service is fully integrated into the Openbank app and website, offering a secure and easy experience for both beginners and experienced crypto investors.

Importantly, clients can rely on the support of Banco Santander, one of Europe’s largest and most trusted banks. The bank will also benefit from the protections offered under the European Union’s Markets in Crypto-Assets Regulation (MiCA).

Notably, Openbank is entering the crypto market with low trading fees of 1.49% for both buying and selling, with a minimum fee of €1 per transaction. There are no custody fees. As such, customers can hold their digital assets safely and without extra costs at the bank. It is also worth noting that the bank plans to expand its offering to Spain in the coming weeks.

Deutsche Bank Pushes Effort to Grow in the Crypto Market

In a similar vein, Deutsche Bank, a German multinational investment company, plans to start its cryptocurrency custody service in 2026. 

As reported by TheCoinRise, the bank will collaborate with the Austrian cryptocurrency exchange Bitpanda to develop this service. This move is also integral for Deutsche Bank’s effort to grow in the digital asset market.

Meanwhile, Clearstream, a subsidiary of Deutsche Börse, has entered the crypto industry. The company launched a new custody service for institutional investors, enabling them to invest in the digital asset market. 

This service initially supports BTC and ETH. Later on, more cryptocurrencies will be added. It is also worth noting that institutional clients now have access to the new service, which provides custody and settlement for digital assets.

Banco Santander Leaps Into Stable Token Issuance

In May, Banco Santander announced its plan to introduce a stablecoin and provide cryptocurrency services to retail clients through its digital banking platform. 

This move also comes with the growing stablecoin market. Recall that in November 2023, Santander Private Banking International started allowing clients with Swiss accounts to trade Bitcoin and Ethereum.

The bank’s specialized trading option is subject to predefined criteria, providing a strategic and discerning approach to cryptocurrency involvement.  Undoubtedly, Banco Santander could become an important player in the evolving digital finance ecosystem by developing a stablecoin and expanding its retail crypto offerings.