Santander’s Openbank Starts Offering Crypto Trading in Germany, Spain Coming Soon

The digital banking arm of Spanish financial giant Santander Group, Openbank, opened cryptocurrency trading for customers in Germany, with plans to add its home market in the next few weeks.

The new service allows users to buy, sell and hold five popular cryptocurrencies: bitcoin (BTC), ether (ETH), litecoin (LTC), polygon (MATIC) and cardano (ADA), according to a press release. The cryptocurrencies are available alongside stocks, ETFs and investment funds.

Customers can trade without moving funds to an external platform, keeping all investments in one place under Santander’s umbrella, the bank said.

“By incorporating the main cryptocurrencies into our investment platform, we are responding to the demand of some of our customers,” said Coty de Monteverde, head of crypto at Grupo Santander.

The bank charges a 1.49% fee per transaction, with a 1 euro ($1.2) minimum, and does not include custody fees. The bank said it plans to add more cryptocurrencies and new features, such as crypto-to-crypto conversions, in coming months.

Santander Private Bank was back in 2023 making headlines when it started letting clients with accounts in Switzerland trade BTC and ETH. It selected crypto safekeeping technology firm Taurus for custody.