Santander’s Openbank Launches Cryptocurrency Trading Service in Germany, Plans Expansion to Spain
Madrid, Spain – Openbank, the digital banking arm of Banco Santander, has officially launched a cryptocurrency trading service for its clients in Germany as of September 16, 2025. This new service allows customers to buy, hold, and sell major cryptocurrencies directly through Openbank’s investment platform, marking a significant step in Santander’s expansion into the crypto asset market.
The Cryptocurrencies currently available for trading include Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Polygon (POL), and Cardano (ADA). This integration is designed to streamline customers’ investment activities by combining crypto offerings with traditional investment products on a single platform, eliminating the need to rely on third-party services.
Openbank has announced plans to extend this cryptocurrency trading service to customers in Spain within the coming weeks. The rollout is supported by compliance with the European Union’s newly established Markets in Crypto-Assets Regulation (MiCA), which provides a clear legal framework and investor protections for crypto services across Europe.
Regulatory Compliance and Customer Benefits
Openbank clarified that transactions on the crypto platform carry a fixed trading fee of 1.49%, with a minimum charge of €1 per transaction, but notably, no custody fees will be applied, which could make the service more accessible for retail investors.
Coty de Monteverde, Head of Crypto at Grupo Santander, emphasized the importance of responding to client demand for digital assets: “By incorporating the main cryptocurrencies into our investment platform, we are responding to the demand of our customers and continuing to strengthen our broad range of products and services through an agile, simple technology platform backed by one of the world’s leading financial groups.”
Openbank’s Strategic Positioning in Europe
Openbank currently serves more than 2 million clients across several countries including Spain, Germany, Portugal, the Netherlands, the United States, and Mexico. The bank’s foray into crypto trading demonstrates Santander’s ambition to leverage its size and resources in the rapidly evolving digital asset space.
This initiative follows Santander’s earlier ventures into blockchain and cryptocurrencies, such as the launch of the Ripple-powered One Pay FX payment app in 2018, facilitating same-day international transfers. Moreover, Santander has also explored the stablecoin sector, including potential retail crypto services involving tokens pegged to the US dollar and euro.
Future Plans and Industry Impact
Openbank has committed to expanding its portfolio of tokens and introducing new features like cryptocurrency-to-cryptocurrency conversions in the near future. Pending regulatory approvals, the bank aims to make these services available to its customers in other countries where it operates.
The launch places additional pressure on other European financial institutions to accelerate their adoption of cryptocurrency services, especially amid growing competition from U.S. banks increasingly encouraged by federal stablecoin legislation and supportive regulatory developments.
This move by Openbank signifies a broader acceptance of cryptocurrencies within traditional banking sectors, highlighting a trend toward mainstreaming digital assets across Europe.