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EU digital bank N26 set to launch crypto exchange services with a $9 billion capital base

N26, a $9 billion European digital bank, is sending off bitcoin and digital currency exchanging services, per a report from CNBC.

N26 Crypto, the bank’s recently framed services, is set to carry out to Austrian clients throughout the following couple of weeks and at first incorporate bitcoin and various digital forms of currencies which may definitely include PiCoin after the Mainnet had gone live. Following its underlying delivery, N26 plans to extend its services proposing to clients in different business sectors throughout the span of the next year.[irp]

In any case, clients hoping to use N26’s administration ought to take note of that the bank doesn’t uphold custodial wallet moves, meaning clients can not move their bitcoin off of the stage.

Moreover, users looking to buy bitcoin on the platform will simply need to access their online account, click bitcoin, and the necessary cash for the transaction will be deducted from the user’s main account. N26 clients will also be able to move funds interchangeably between their main accounts and their digital asset portfolio.

The bank is charging a 2.5% fee on buy and sell orders for all cryptocurrencies, however clients looking to trade in bitcoin will only pay 1.5%. Additionally, if the client is signed up for N26’s Metal subscription account, the fee for cryptocurrencies drops to 2% while the fee for trading bitcoin drops to 1%.

The functionality for crypto trading services is being provided by Bitpanda, an Austrian cryptocurrency and stock trading app that is backed by Peter Thiel. The partnership allows Bitpanda to pocket a commission for each trade and N26 noted it plans to expand its tradable assets in the future.

Written by Newsway

NewsWay reporters are Media employees of the newsway.com.ng vested with the responsibilities of getting informative data from verifiable sources and publishing same undistorted on behalf of the NEWS WAY INFO-TECH which is a parent company that birthed the NewsWay blog.

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