German challenger bank N26 has launched its first cryptocurrency offering which will enable clients to trade close to 200 virtual currencies.
N26 Crypto, which has been developed in partnership with crypto custodian Bitpanda, will initially be rolled out in Austria before being expanded to other key markets over the next six months.
According to N26, the launch has been inspired by the strong local demand for crypto with 40% of its users either actively trading or expressing strong interest in crypto investment.
N26 co-founder and Co-CEO, Valentin Stalf said: “While cryptocurrencies have seen a decline in value over the last year, they remain a requested and interesting asset class forinvestors and a growing part of the financial system."