Cryptocurrency trading service debuts from Openbank
Openbank, the 100% digital bank owned by Grupo Santander, has taken a significant step forward in its journey to provide a comprehensive range of financial services. The bank has now allowed customers to trade Bitcoin, Ether, Litecoin, Polygon, and Cardano, marking a major expansion in its cryptocurrency offerings.
This move strengthens Openbank's broad range of products and services through an agile, simple technology platform. The head of the crypto business area at Grupo Santander, Coty de Monteverde, coordinated the launch of this new service.
The incorporation of these main cryptocurrencies into Openbank's investment platform is in response to customer demand. The expansion is backed by Santander and includes the guarantees and investor protection provided by the European Markets in Crypto-Assets Regulation (MiCA).
Openbank's cryptocurrency trading service has competitive fees of 1.49% on asset sale and purchases (with a minimum of €1 per operation), and no custody fees. Customers can buy, sell, or hold these cryptocurrencies alongside their other investments on Openbank, with transfers to other platforms not necessary for these cryptocurrency transactions within Openbank.
The expansion of Openbank's cryptocurrency offerings also strengthens its offerings to investors in Germany. Over the coming months, the bank plans to expand its portfolio of available cryptocurrencies. Openbank will offer new functionalities such as conversion between different cryptocurrencies in the future.
Openbank provides investment funds from over 123 asset managers and more than 2,000 ETFs. The bank recently launched a broker platform equipped with artificial intelligence-based tools that deliver target prices for more than 1,000 European and US stocks. Openbank also offers an automated investment service, Robo Advisor, and a portfolio of over 3,000 stocks.
The new service will soon be available to Openbank customers in Spain, further solidifying its position as a leading digital bank in Europe. As part of one of the world's leading financial groups, Santander, Openbank continues to innovate and provide cutting-edge financial solutions to its customers. The European Markets in Crypto-Assets Regulation (MiCA) provides guarantees and investor protection for these cryptocurrency transactions on Openbank, ensuring a secure and reliable environment for its users.
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