N26 is a European online bank that no longer intends to remain on the sidelines of the digital economy. It is for this reason that this renowned banking institution on the European continent has decided to embark on digital currency trading. And this, with a colossal capital of 9 billion dollars through the Bitpanda crypto trading platform.
Crypto trading within the reach of N26 online banking customers
From now on, N26 bank customers will have privileged access to crypto currencies via their online bank. Indeed, this new bank based in Berlin, Germany has just signed a partnership agreement with the crypto broker Bitpanda.
This association between these two large companies on the European continent will eventually allow N26 bank customers to have access to all the crypto currencies available on the crypto trading platform. Bitpanda. According to this agreement, a hundred digital currencies will be accessible initially.
Then, the second part of the project carried by this partnership will allow the bank’s customers to access 100 other crypto currencies. This will bring the total of virtual currencies accessible by N26 bank customers to 200 in total.
What should also be noted is that this project will take shape first in Austria before spreading to other European and American markets.
If initially, this partnership agreement will be beneficial for N26 customers, it should be noted that it is of paramount importance for the bank itself.
Indeed, the N26 bank was struggling to position itself on the American and British markets. This, because it is an online bank that does not have any physical branch to represent it.
But through this partnership, N26 will be able to enter its markets through the Bitpanda crypto exchange platform.
A new feature and enhanced anti-money laundering security
Online bank N26 offers cryptocurrency trading as a feature that will allow its customers to access a wider range of financial products.
Indeed, all eligible customers of this new bank will be able to buy and to sell crypto currencies in a simplified way.
N26 and Bitpanda have promised to put everything in place to prevent possible fraud or attempts at money laundering in particular. Also, to reinforce security, the bank has integrated very strict eligibility criteria.
In other words, before having access to this new functionality, each N26 bank customer must meet certain conditions which will be specified by the general conditions of use and sale of the platform.
To launch this new feature, N26 bank and Bitpanda crypto exchange chose to introduce this service to the Austrian market first. Admittedly, the bank intends to deploy this service in the other countries of Europe and especially towards those of America.
Nevertheless, it found it wise and secure to start with a single market in a single country before deploying on a larger scale. This will, among other things, detect certain flaws that could facilitate money laundering or hacks to correct them as soon as possible.
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