German Online Bank Mulls Expanding Crypto Trading
On 17th Jan, German online bank N26 announced that it would expand the list of countries where its customers could trade cryptocurrencies to include Germany and Switzerland.
N26 also stated that it would provide the service to customers in Belgium, Portugal, and Ireland.
In its first foray into the asset class, N26 began offering crypto trading to a limited number of customers in Austria only last year.
The prices of major cryptocurrencies such as bitcoin and ether have plummeted in the last year as a global market downturn prompted investors to flee risky assets and as Sam Bankman- Fried’s FTX failed.
N26 stated that the expanded trading would be phased in over the next few weeks.
Founded in 2013, the Berlin-based bank has been cited by regulators for lapses in its anti-money laundering controls. The bank has said that it has made improvements.
(With inputs from Shikha Singh)
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