"Conventional Banks Pursue Crypto Ambitions as Openbank Joins Germany’s Digital Asset Boom"

Santander’s Openbank, a digital banking platform within the

Group, has introduced cryptocurrency trading services in Germany, representing the company's newest step into the digital asset sector. Customers can now access trading for various digital currencies, such as (BTC), (ETH), and additional supported tokens. This initiative is part of Openbank’s wider plan to update its service portfolio and compete with emerging fintech companies in the area.

Openbank’s move into the German crypto scene comes after a period of clearer regulations and a rising appetite for digital asset solutions in the country. Germany’s Financial Supervisory Authority (BaFin) has shown support for regulated crypto platforms, and Openbank has secured the approvals required to do business. The feature is accessible via the Openbank mobile app, which now features a dedicated section for crypto trading, complete with live pricing and secure asset storage.

Beyond Germany, Openbank is reportedly planning to introduce similar digital currency services in Spain, where it is headquartered. Although a specific rollout date has not been provided, the bank indicates that the Spanish launch will adhere to the same compliance and security principles as the German version. This expansion reflects Openbank’s intention to standardize the experience for customers across Europe and tap into the increasing interest in cryptocurrencies among younger users.

Openbank’s venture into digital asset trading mirrors broader shifts within Europe’s banking industry. A number of prominent banks, such as

and ING, have either launched their own crypto offerings or teamed up with fintech partners to deliver such services. Industry experts believe that traditional banks are moving into crypto both to satisfy evolving customer preferences and to stay relevant as the financial sector becomes more digital.

Early figures indicate that the volume of cryptocurrency transactions processed by European banks jumped 140% over the past year. While Openbank has not yet shared detailed performance stats for its new platform, the company has said it will issue regular progress reports as the service develops. The platform also includes integrated customer support and educational materials to help users navigate crypto trading.

This launch highlights Santander’s strong focus on financial innovation. In recent years, the bank has made substantial investments in digital transformation, such as developing blockchain solutions and enhancing mobile banking. By adding crypto trading, Openbank further cements its reputation as a progressive bank that values both customer ease and technological progress.