The Spanish banking giant is introducing digital asset trading through Openbank.
According to Bloomberg, Banco Santander has rolled out cryptocurrency trading services for retail clients via its digital platform, Openbank.
Starting September 16, Openbank’s German clients can buy and sell Bitcoin, Ethereum, Litecoin, Polygon, and Cardano. The bank announced plans to expand the offering with additional tokens in the coming months and to extend the service to Spanish clients in the following weeks.
This initiative positions Santander among the first major European banks to offer large-scale crypto services to the retail market, leveraging the implementation of the European MiCA regulation (Markets in Crypto-Assets).
The service charges a 1.49% fee per transaction, with a minimum of one euro, while custody fees are waived. Openbank plans to introduce new features, including direct conversions between different digital assets.
By choosing Germany as a test market, Banco Santander aims to gauge demand in Europe’s largest economy. Spain, Santander’s home country, will follow shortly, benefiting from an increasingly supportive local regulatory environment for digital assets.
Santander’s strategy also reflects its goal of retaining younger, tech-savvy investors within its ecosystem. Analysts believe that offering cryptocurrencies alongside traditional investments could help the bank attract clients who might otherwise move their assets to fintech platforms.
