N26, a German fintech company with a corporate value of $9 billion, officially announced on the 20th (local time) that it will launch a cryptocurrency transaction service called “N26 Crypto” through its own mobile app.

N26 said, “40% of users are actively trading cryptocurrency or are interested in investing in cryptocurrency,” and said it has launched the service to meet customer demand.

Customers who have completed identification can use N26 Crypto in the “Transactions” section of the “Financial” tab added to the N26 app.

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If you use N26 Crypto, you can sell 200 types of cryptocurrency, including Bitcoin and Ethereum, through a general bank account.

A transaction fee of 1.5% is charged to Bitcoin and 2.5% to other cryptocurrencies. N26 cardholders can receive additional discounts.

The service will first be launched in Austria and then expand to several major markets over six months.

BitPanda, headquartered in Vienna, Austria, is in charge of handling and entrusting cryptocurrency transactions.

Valentin Stalf, co-founder and co-CEO of N26, expressed expectations that the new service will be an entryway for next-generation investors interested in cryptocurrency.

He said, “The value of cryptocurrency has fallen, but it is still an asset type that many investors are interested in and requesting,” and “the influence within the financial system is growing.”

Founded in 2013, N26 has more than 8 million users in 24 markets, with deposits amounting to 6 billion euros (about 8 trillion won).

It raises 1.8 billion dollars from large investment companies such as Third Point Ventures and Coretu Management, and is valued at 9 billion dollars (about 12 trillion won).

By writer

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