German neobank N26, one of Europe’s largest fintech institutions, has announced that it will launch cryptocurrency trading in 2022.
N26 co-founder and CEO Max Tayenthal said in an interview with the Financial Times that Berlin-based N26 is lagging behind in service diversification due to its global expansion ambitions.
The CEO stated that after N26’s exit from the US and UK fintech markets, they plan to focus on the European fintech market, and in this context, they are working to offer more new products and services to their customers.
Emphasizing that the bank, which has approximately 7 million customers, needs to expand its product range, CEO Tayenthal stated that N26 aims to establish a stock brokerage in addition to launching crypto money trading in 2022.
Tayenthal did not provide exact information on exactly when the bank will open cryptocurrency trading, but he assured that this service will launch in 2022.
N26 announced in November that it is exiting the US market and will launch additional financial products and services for its European customers.
“N26 will focus its strategy on expanding its digital banking experience into new verticals next year, including investment products,” the announcement said.
The N26 mobile application does not currently offer any crypto services, and there has been no statement yet about the crypto trading-related products that the bank has prepared for its customers.
*Not investment advice.