{"id":391953,"date":"2022-01-10T12:54:34","date_gmt":"2022-01-10T09:54:34","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/german-neobank-n26-to-launch-crypto-trading-later-this-year\/"},"modified":"2022-01-10T12:54:34","modified_gmt":"2022-01-10T09:54:34","slug":"german-neobank-n26-to-launch-crypto-trading-later-this-year","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/german-neobank-n26-to-launch-crypto-trading-later-this-year\/","title":{"rendered":"# German neobank N26 to launch crypto trading later this year"},"content":{"rendered":"

“# German neobank N26 to launch crypto trading later this year <\/strong>”
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German neobank N26, one of the biggest European fintechs with over $9 billion in valuation, is finally ready to tackle crypto and equities trading after striving for a global expansion.<\/p>\n

Despite being an early player in the financial technology<\/a> boom across Europe, the Berlin-based online bank N26\u2019s global ambitions induced a setback in its diversification of services, N26 co-founder and co-CEO Max Tayenthal said<\/a> in an FT interview.<\/p>\n

After exiting two critical fintech markets, the United States and the United Kingdom, N26 plans to \u201csharpen its focus on its European business\u201d by introducing new products and services to its 7 million customers.<\/p>\n

According to Tayenthal, who admitted that the online bank needs to expand its product universe, N26 aims to launch a crypto trading business in 2022, followed by an equities brokerage, instead of \u201cputting flags in new markets.\u201d <\/p>\n

The N26 mobile app<\/a> currently doesn\u2019t offer crypto functionality, and features of the upcoming product related to crypto trading are yet to be revealed. Cointelegraph reached out to N26 for more information, and this article will be updated pending new details.<\/p>\n

Related: <\/em><\/strong>Retailers to drive crypto payments adoption: Survey<\/em><\/strong><\/p>\n

N26 announced its exit from the U.S. market in November when it teased<\/a> additional financial products and services for its European customers. \u201cN26 will focus its strategy on broadening its digital banking experience into new verticals to include investment products in the coming year,\u201d the announcement said.<\/p>\n

The company was hit by several restrictions<\/a> from German financial watchdog BaFin in May 2021, partly due to its lacking Anti-Money Laundering controls. BaFin decreed that N26, which accepted an average of 170,000 new clients per month last year, can not onboard more than 50,000 customers per month.<\/p>\n

Describing the BaFin-enforced new customer cap as a massive restriction for the growth investor-funded fintech, Tayenthal said he expects the condition to by late summer 2022.<\/p>\n