Banco Santander Launches Crypto Trading via Openbank in Germany

Banco Santander, Spain’s largest bank and the fourth-largest in Europe, has officially entered the cryptocurrency market. Through its digital platform Openbank, the financial giant has launched a crypto trading service, starting with customers in Germany before expanding to Spain and other European markets.

For this initial rollout, Openbank users can buy, sell, and hold five digital assets: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Polygon (MATIC), and Cardano (ADA). Santander confirmed it plans to add more cryptocurrencies in the future, along with token-to-token conversion options.

The move comes amid growing crypto adoption in Spain, where several major companies have recently pivoted toward blockchain and Bitcoin-related strategies. Santander’s entry signals a strong commitment to meeting customer demand for digital assets and enhancing its fintech portfolio.

Coty de Monteverde, Head of Crypto at Grupo Santander, highlighted that integrating leading cryptocurrencies into Openbank reflects the bank’s strategy to provide an agile and secure platform backed by one of the world’s most reputable financial institutions.

The service currently allows only fiat-to-crypto transactions, but broader trading capabilities are expected soon. Santander will comply with EU regulations under MiCA and implement robust consumer protection measures. The bank has set transaction fees at 1.49% for crypto purchases and sales, though it has not yet clarified if this rate will extend to future crypto-to-crypto conversions.

With traditional finance players increasingly adopting digital assets, Santander’s crypto initiative could encourage further mainstream acceptance across Europe. If successful, this rollout positions Santander not only as a banking leader but also as a major force in bridging traditional finance with the evolving crypto economy.