Neobanking giant N26 ready to offer cryptodic services in 2022

• n26, a online banking giant based in Germany, is disappointed with his ignorance of the booming cryptoma market.
• As a turnaround, the company plans to start a crypto trading business and a shares in stock within the year.

N26, a fintech company with a volume of 7.8 billion euros (approx. 8.8 billion US dollars), is now one of those who regret that he has ignored the cryptom market for far too long. Co-founder and co-CEO Max Tayenthal says that the German company has placed too much emphasis on setting flags worldwide instead of investing in the crypto boom.

N26 has been founded in the past ten years as a promising online loan company. Today it is one of the highest rated fintech in Europe, with investors such as Peter Thiels Valar Ventures and Li Ka-Shing. N26 has expanded its roots and now offers 7 million customers in 24 countries. Despite these impressive figures, the company has been to blame for the fact that it does not offer crypto and stock trading services.

"We should have built trade and crypto instead of starting in the USA? In retrospect, it might have been a smart idea," said Tayenthal in an interview and added: "We distributed ourselves extremely thinly."

The country recently withdrawn its business from the United States because it has to focus on its core European business.

n26 is prepared for the crypto industry in front of

With the regret, the decision of 2022 comes to start a crypto trade business and a shares. Here the company may have to reorganize its regulatory compliance measures, since the regulatory authorities are aiming for an intensive supervision of the crypto industry.

related : analysts share their views about what crypto expects in 2022

The company had regulatory problems with the German supervisory authority BaFin last year due to various defects, such as poor money laundering rollers. The Bafin then set a limit of 50,000, with N26 having an average of 170,000 new customers per month. According to the supervisory authority, this restriction is only canceled if the company demonstrates its skills to comply with regulations and risk reduction. In addition, BaFin has appointed two special officers in a rare step to pursue the improvements at N26.

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In this matter, Tayenthal assures that the company will have fully raised the upper limit until late summer. He Last year made efforts to combat the lattice of his skills to combat To increase financial crime "massive". However, he admits that "certain aspects" still have to be worked on.