Austrian challenger bank N26 has launched a cryptocurrency trading product in partnership with Bitpanda.

N26 Crypto will allow users to buy and sell around 200 cryptocurrencies in the app after passing identity verification and eligibility checks.

The service will start in Austria with 100 coins and will add more coins and countries in over the next six months.

N26 claims around 40 per cent of N26 customers in Austria are already trading cryptocurrency or have expressed an interest in doing so.

Commenting on the news Valentin Stalf, co-founder and co-chief executive of N26 said: “While cryptocurrencies have seen a decline in value over the last year, they remain a requested and interesting asset class for investors and a growing part of the financial system.”

He added: “Cryptocurrency trading is often the entry point to investing for a new generation of investors who are looking to explore ways to grow their wealth. With N26 Crypto, we are offering a simple way to trade and invest, with a great user experience and low and transparent fees.”

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