Openbank, the digital banking platform under Banco Santander, is leading the charge in offering retail banking customers direct cryptocurrency trading in Germany, as confirmed by various market analyses and official announcements.
This innovative service allows users to seamlessly buy, sell, and store cryptocurrencies, facilitating transactions for major coins such as Bitcoin, Ethereum, Litecoin, Polygon, and Cardano.
According to industry sources, Openbank plans to extend this offering to Spain shortly, with further expansions within Europe anticipated later this calendar year.
Santander’s Strategic Crypto Expansion
This advanced feature integrates directly into Openbank’s investment platform, ensuring customers don’t have to transfer funds to an external exchange to engage in trading.
As stated by the bank, users can execute trades using the same application that manages their other traditional banking accounts, streamlining the entire process.
Openbank, the online banking division of Banco Santander, has initiated retail cryptocurrency trading, marking a significant step by a leading European bank into this financial sector
— Bloomberg (@business) September 16, 2025
The initial selection encompasses five popular tokens identified based on liquidity and customer demand, with plans to augment the offerings with additional cryptocurrencies in the near future.
Understanding Costs and Custody Regulations
Current reports indicate that the fee for buying and selling transactions stands at 1.49%, with a minimum charge of €1 per transaction.
According to the bank, there are no custody fees associated with holding assets on the platform. This absence of holding fees might appeal to casual investors interested in a “buy and hold” strategy.
On the contrary, seasoned traders may find the 1.49% transaction fee relatively higher compared to specialized crypto exchanges that often have lower trading costs.
Rollout Schedule and Transaction Limits
The initial launch of Openbank’s services in Germany sets the stage for an anticipated rollout in Spain within weeks, with broader availability across the EU expected later in the year.
Future plans include the addition of new cryptocurrencies and the possibility of enabling crypto-to-crypto conversions over time.
At present, the focus remains on facilitating fiat-to-crypto transactions with a limited array of well-known coins.
Regulatory and Compliance Considerations
This product is governed by the European Markets in Crypto-Assets (MiCA) framework, establishing guidelines for crypto services across the EU.
Furthermore, Openbank will adopt rigorous KYC and AML protocols standard for regulated financial institutions, meaning customers can expect identity verification and adherence to anti-money-laundering regulations during their onboarding process.
Why This Initiative Matters for Retail Customers
The introduction of crypto trading via a mainstream banking application makes digital assets more accessible for everyday users. Traditional banking institutions adding cryptocurrency features simplify the entry point for everyday savers who prefer not to engage with unfamiliar platforms.
Nevertheless, the limited range of initial tokens and the fee structure may steer dedicated crypto enthusiasts towards specialized exchanges that offer lower fees and access to a wider variety of coins.
Openbank’s digital unit has expressed intentions to broaden this service while diversifying the asset offerings. According to various reports, the bank seeks to strike a balance between regulatory adherence and increased accessibility for retail investors.
Market observers will be keenly monitoring the evolution in pricing models, supported cryptocurrencies, and the phased rollout across different nations in the coming future.
Featured image courtesy of American Banker, chart via TradingView
