Europe’s first mobile bank, N26, announced its new way to trade crypto with N26 Crypto. On January 17th, 2023, N26 shared a tweet in which it gave the following information.
N26 began its journey in 2013 as a payment app for teenagers. With the launch of crypto investment they are adopting the latest technology for making simple, fast and secure banking.
However, N26 Crypto is already giving its service in Austria and now expanding to Germany, Switzerland, Belgium, Ireland, and Portugal.
The N26 Crypto feature will be gradually rolled out in the coming weeks. The app is powered by Bitpanda Asset Management GmbH,a Germany-based financial services provider that offers trading, custody, management and protection of crypto assets.
According to N26, N26 Crypto is an all-in-one app that manages and monitors both cash and crypto in one place. One can buy and sell almost 200 coins including Bitcoin (BTC), Ether (ETH), Cardano (ADA) from N26 sapp.
More Crypto Trading Updates
On January 18th, 2023, Coinbase announced that they are halting operations in Japan. According to its official site, due to market conditions Coinbase has made this decision and to conduct a complete review of their business in the country.
Coinbase further noted that they are ensuring that all their customers can withdraw their assets at their earliest convenience. Meanwhile, Fiat deposit functionality will be removed on January 20th, 2023 JST.
Moreover, Coinbase Japan customers will have until February 16th, 2023 JST to withdraw their fiat and crypto holdings from the exchange. Any remaining crypto holdings held on Coinbase on or after February 17th, will be converted to Japanese Yen.
On the other hand, according to Bloomberg, Genesis Global Capital is planning to file for bankruptcy. The lending unit has been in confidential negotiations with various creditors groups in between a liquidity crunch. And warned that it may file for bankruptcy if they failed to raise cash.
The crypto company is working on a restructuring plan and has exchanged proposals with its creditors. Some of them had suggested receiving a mix of cash and equity from Digital Currency Group (DCG), as reported by Yahoo Finance.
According to a January 17th, 2023 letter to shareholders seen by Bloomberg, DCG told shareholders that it’s suspending quarterly dividends in an effort to conserve cash.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/01/19/german-bank-launch-crypto-trading-and-expand-across-europe/