Popular Mobile banking app, N26 has partnered with Bitpanda, a crypto exchange platform. N26 announced the partnership in a press release on Thursday. Through the partnership, N26 intends to offer crypto trading services to its users in Austria.
Occasioned by this development, users will now be able to trade over 200 cryptocurrency products with their N26 app. According to N26, it launched the trading app in Austria owing to the rise in customers’ demand. Interestingly, report shows that over 40% of its users are active crypto traders and have shown interest in investing in crypto currency.
The banking firm further that users with verified identities are qualified to use its trading app. As revealed, they can make payments for cryptocurrency through their bank account. The company said it pegged the transaction fee on Bitcoin purchase at 1.5%. Also, it charges a 2.5% transaction fee for other cryptocurrencies. In addition, holders of N26 metallic cards are eligible to get additional discounts.
According to N26, its trading app makes it easy to continuously track portfolio development by keeping tabs on customer crypto portfolios. Also, its customers get to benefit from its easy-to-understand transaction process. Also, the trading app enable them to review and confirm their orders before transactions becomes completed.
Founded in 2014 by Valentin Shalf and Maximilian Tayenthal, the banking giant has gained over 8 million users in 24 notable markets. Now, the firm aims to create simple and intuitive experience for users and as well make cryptocurrency trading as seamless as possible.
Worth noting that Bitpanda is an Austrian-based trading platform. As revealed, Bitpanda is in charge of managing the execution of trades and custody of coins. Notably, the main objective of the partnership between both firms is to offer a competitive new pricing model for N26 customers.
N26 CEO sees crypto as an entry point for investors to grow wealth
The CEO and Co-founder of N26, Valentin Stalf reacted to the partnership with Bitpanda. According to the CEO, cryptocurrencies are valuable investment assets for investors despite its prevailing downturn. Stalf further that cryptocurrency also avails an entry point for investors who are interested in growing their wealth. According to Stalf, the firm aims to offer a simple, efficient, and user-friendly trading and investment platform.
N26 Chief Product Officer, Gilles BianRosa also reacted to the partnership with Bitpanda. According to the executive , N26 banking features are built based on customers’ needs, thereby ensuring easy management of funds.