Deutsche Online Bank N26 starts cryptocurrency trading business this year-

N26, a German online neobank, has announced that it will be in the cryptocurrency trading business this year. The announcement was made by Max Tayenthal, co -founder and CEO of the company, who thought about whether it might have been better to concentrate on cryptocurrency instead of acting globally. The company has closed the company in Great Britain and is now leaving the USA

N26 offers cryptocurrency services

N26, a German online bank, has announced that it will introduce cryptocurrency trading for your customers this year. The co -founder of the bank and one of its current CEOs, Max Tayenthal, recently announced the need to be a universal platform. Tayenthal also spoke about oversight that the bank may have made last year when ignoring cryptocurrencies.

The Executive told Financial times:

should we have built trading and crypto instead of starting in the USA? In retrospect maybe a clever idea.

Newsletter abonnieren

Bleiben Sie informiert: Jeden Abend senden wir Ihnen die Artikel des Tages aus der Kategorie Krypto news – übersichtlich als Liste.

Abonnieren

n26, a bank with more than from January 2021, before the introduction of these services according to Great Britain and the USA expand. However, you left Britain last year and are currently closing your business in the United States. Tayenthal said that this had to do with a change in politics after he had noticed that the bank was "distributed too thinly" and that there were "so many things to do" instead of flagging new markets. "

regulatory problems

While the bank was successful with a value of 7.8 billion euros last year, it was exposed to the regulatory pressure of BaFin, the German Fintech regulatory authority. According to the institution, the company had problems with the AML compliance.

For this reason, the German regulatory authority limited the number of customers that N26 could allow every month. Currently, only 50,000 customers can register to use the company's functions and services. Bafin has commissioned two representatives to pursue and report the company's progress. Tayenthal was confident that N26 could work with the supervisory authorities to lift this upper limit that affects the company's growth. The company won an average of 170,000 customers per month last year before the upper limit was enforced. Tayenthal said:

We have a plan. We know what to do is and can implement it [it].

bitcoin.com News recently reported that other traditional banks could do this Offer cryptocurrency From this year.

What do you think of the step of N26 to add cryptocurrencies in the services offered? Tell us in the comment area below.

sergio goschenko

sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game when he entered the cryptosphere in December 2017. He has a computer engineering background, lives in Venezuela and is affected by the cryptocurrency boom at the social level via crypto success and how it helps the non-banks and under-sector.

Bedy verification : Shutterstock, Pixabay, Wiki Commons