N26 customers will now be able to invest in cryptoassets directly via their application. The N26 offer is deployed in France using Bitpanda. The bank announces the possibility of investing in nearly 200 cryptoassets.
The N26 nobank is trying to catch up with its big competitor Revolut. Since 2018, the latter has offered its customers the opportunity to invest in cryptos directly from its app. The online bank N26 announces that it will launch its offer this Thursday, March 21, 2024. N26 Crypto.
This N26 Crypto offer was already available in 7 of the 24 countries where N26 is established. France joins them. The turning point for N26 in France was the deployment of an IBAN in FR.
N26: this new feature which will reassure French customers of the German nobank
Everything happens in the N26 application and at your fingertips
The French IBAN, launched last summer, was the cornerstone for deploying our global banking offering to some 3 million customers in France, explains Jérémie Rosselli, CEO N26, in a press release. This first investment product, on cryptoassets, will allow our clients to simply and safely take their first steps in these new types of assets which are attracting a lot of interest. No need to wallet, download a new application or register on a platform for specialists. Everything happens in the N26 application and at your fingertips. Customers are provided with the correct information and necessary warnings. The bank announces the possibility of investing in nearly 200 cryptoassets.
Lower fees for N26 Metal customers
Concretely, N26 customers will be able to access the Crypto service via a new Investment section on their banking application. N26 Crypto is offered in partnership with Bitpanda GmbH, specifies the German online bank. N26 Metal customers will be able to transact on more favorable terms, with 1% transaction fees applied for trading Bitcoins and 2% for all other available cryptoassets. All other N26 customers will be able to exchange Bitcoin with a 1.5% transaction fee and a 2.5% fee for other cryptoassets.
According to a study by KPMG for Adan (professional organization claiming to represent Web3 and therefore the crypto environment in France) sponsored by Bitpanda, 12% of French people hold crypto-assets, compared to 9.4% in 2022. The adoption of cryptos mainly affects a young audience (18-35 years old) and predominantly male, observes Adan. The over-representation of young people continues to strengthen among French people who have already held crypto-assets, 57% of them now being under 35 years old, compared to 50% at the start of 2023.
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