German online bank N26 to expand crypto trading

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FRANKFURT, Jan 17 (Reuters) – German online bank N26 said on Tuesday it would expand the list of countries where its customers can trade cryptocurrency to include those in Germany and Switzerland.

Additionally, N26 said it would provide the service to customers in Belgium, Portugal and Ireland.

Last year, N26 began offering crypto trading to select clients in Austria only, in its first foray into the asset class.

The prices of major cryptocurrencies such as bitcoin and ether have fallen sharply over the past year as a broader slowdown in global markets prompted investors to abandon risky assets and in the wake of the collapse of Sam Bankman-Fried’s FTX.

N26 said it will gradually roll out expanded trading over the coming weeks.

Founded in 2013, the Berlin-based bank has been cited by regulators for failings in its anti-money laundering controls. The bank said it had made improvements.

Reporting by Tom Sims and Marta Orosz Editing by Miranda Murray

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