Santander’s Openbank Launches Crypto Trading in Germany
Grupo Santander’s digital banking subsidiary, Openbank, has launched cryptocurrency trading services for customers in Germany, reflecting increased demand for digital assets across Europe. The offering allows users to buy, sell, and hold Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Polygon (POL), and Cardano (ADA) directly through Openbank’s platform.
Integration under MiCA Regulatory Framework
Openbank integrates crypto trading alongside its existing investment products, removing the need for third-party platforms. The service operates in compliance with the European Markets in Crypto-Assets Regulation (MiCA), which provides a unified regulatory framework across the EU.
According to Coty de Monteverde, head of crypto at Grupo Santander, the launch responds to growing customer interest in cryptocurrency services. The bank plans to extend crypto trading to Spain within the coming weeks, introducing additional tokens and features such as crypto-to-crypto conversions.
Santander’s Crypto Footprint and Strategic Initiatives
Headquartered in Spain, Santander ranks among Europe’s largest banks, with over 175 million customers globally. Openbank serves more than 2 million clients across Spain, Germany, Portugal, the Netherlands, the US, and Mexico.
This initiative builds on Santander’s previous crypto ventures, including the 2018 rollout of One Pay FX, a Ripple-based payments app facilitating same-day international transfers for retail customers in several countries. More recently, Santander has explored stablecoin issuance and retail crypto services, considering euro- and dollar-pegged tokens.
Wider Crypto Adoption Among German Banks
Santander’s entry into crypto trading in Germany aligns with a broader trend among the country’s major banks adapting to the MiCA framework. DZ Bank, Germany’s second-largest lender, launched a crypto pilot in September 2024 across cooperative banks using Börse Stuttgart Digital’s infrastructure.
Deutsche Bank, the largest German lender, announced plans for a digital asset custody service launching in 2026, in partnership with Bitpanda and Taurus. Deutsche Bank’s digital assets head, Sabih Behzad, has indicated potential involvement in stablecoin issuance.
Additionally, Sparkassen-Finanzgruppe intends to provide retail crypto trading to nearly 50 million German customers via its Sparkasse app by mid-2026, leveraging DekaBank and Börse Stuttgart Digital.
Global Context: US Banks Embrace Crypto Services
Similar developments are occurring in the United States, where the GENIUS Act’s passage in July 2025 has spurred major banks like JPMorgan, Citigroup, and Bank of America to explore stablecoin issuance and retail crypto offerings.
FinOracleAI — Market View
Santander’s Openbank entry into crypto trading in Germany, under the regulatory clarity of MiCA, is a strategic move that enhances its competitive positioning in European digital finance. The integration of crypto services alongside traditional investments simplifies access for retail clients, potentially increasing customer engagement and revenue streams.
Risks include regulatory changes and market volatility inherent to crypto assets. Investors should monitor the rollout in Spain and the addition of crypto-to-crypto conversions as indicators of the service’s expansion and adoption.
Impact: positive
