Shake-up in the European banking sector: Banco Santander, through its digital bank Openbank, has activated cryptocurrency trading for retail clients in Germany, with expansion towards Spain planned for the coming weeks. The timing is significant: the initiative aligns with the European Union’s MiCA framework, which clarifies access to crypto services and introduces shared standards.
According to the data collected by our editorial team and confirmed by Banco Santander’s September 2025 press release, the offer includes transaction fees of 1.49% and no custody fees, conditions that can be directly verified from the official release.
Industry analysts note that the implementation of MiCA, approved in 2023, has created the regulatory framework that makes transnational rollouts possible. Openbank also states that its platform already offers over 3,000 stocks, more than 3,000 funds, and over 2,000 ETFs, useful data for assessing the scope of integration between traditional services and new digital assets.
- Token at launch: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Polygon (POL), and Cardano (ADA)
- Fees: 1.49% per transaction (minimum 1 euro) – no custody fees
- Rollout: active for customers in Germany; expansion in Spain is planned in the coming weeks
What Has Been Activated: The Scope of the Offering
Openbank has opened to German customers the trading of five cryptocurrencies directly from the bank’s app and web platform, maintaining operations within the existing ecosystem. In practice, access is integrated into the already available investment area, with orders executed through instant trading mechanisms and reporting aligned with European compliance requirements. In this context, the experience focuses on continuity of use and formalized controls.
Prices and Conditions: How Much It Costs to Trade
- Transaction fee: 1.49% (minimum 1 euro per transaction)
- Custody: no custody fee expected
- Features in development: direct crypto-to-crypto conversion and expansion of the token list, with a roadmap being defined
Why it is relevant for the EU market
The entry of a player like Banco Santander into retail crypto trading positions a major European bank among the first institutions to offer digital asset services compliant with the MiCA framework. Indeed, users can operate in a regulated environment that reduces regulatory disparities between states and promotes the integration of crypto services with traditional accounts and wallets. That said, regulatory advancement remains a key factor for the scalability of the offering.
Offering in Germany: tokens, integration, and operational limits
In Germany, the proposal focuses on five high-capitalization cryptocurrencies, with operations in euros and standard KYC checks. As with other digital banking services, operational limits are in place to protect clients, along with sets of tax reports useful for income tax declarations. It should be noted that the expansion into Spain is in preparation and will be accompanied by a gradual increase in the range of tokens available, in line with demand.
Competitive Context: Banks and Fintech Put to the Test
The launch takes place in a context where traditional banks and fintech operators converge on similar models. In Germany, institutions like Commerzbank and Deutsche Bank have announced initiatives on digital asset custody and tokenization for the period 2023–2025, while applications like Revolut and N26 offer integrated crypto solutions. Openbank’s proposal, on the other hand, focuses on enhanced regulatory security, extensive integration with existing accounts, and rigorous compliance processes; however, the competition remains intense.
How Retail Crypto Services Work
In the digital banks model, the user experience integrates internal wallets, rapid order execution, and detailed reporting. Generally, banks apply fees and spreads, conduct KYC/AML checks, and set operational thresholds to mitigate risks. In this context, Openbank’s proposal includes an initial set of tokens with the intention to scale the offering based on demand and regulatory adjustments, maintaining continuity with existing banking processes.
Risks, protections, and taxes: what to keep in mind
- Volatility: cryptocurrency prices can experience significant changes in short periods of time.
- Consumer protection: although MiCA aims to improve transparency and governance, it does not completely eliminate market risks.
- Taxes: tax treatment varies based on the country of residence; for further details, consult the Bundeszentralamt für Steuern (DE) and the Agencia Tributaria (ES).
Roadmap and Next Steps
- Rollout: activation already operational in Germany, with extension in Spain planned in the coming weeks.
- New assets: expansion of the list of tokens based on liquidity, compliance, and retail demand.
- Additional features: evaluation of direct conversion between tokens and implementation of further risk management tools.
Current Allocation of the Openbank Platform
- Automated Robo Advisor
- Access to over 3,000 stocks
- More than 3,000 funds from over 120 asset managers
- Over 2,000 ETFs
- Broker platform equipped with analysis tools to monitor price targets on a wide range of stocks (informative description; technical specifications not detailed)
Regulatory Framework: MiCA as an Enabler
With MiCA, the EU has introduced uniform rules for issuers, services, and transparency of crypto-assets, reducing regulatory fragmentation at the national level. This allows banks to integrate digital assets into a uniform retail offering across the entire European territory, facilitating processes and controls.
In summary
The debut of retail crypto trading by Openbank in Germany, with expansion into Spain forthcoming, marks a key step for the integration of cryptocurrencies into the European banking system. The offering, which combines competitive pricing conditions with a regulated environment integrated with traditional services, could prove crucial in capturing the trust and interest of users. Yet, the context remains dynamic and characterized by strong competition between banking institutions and fintech.