Crypto Trading Comes to Openbank in Spain

Openbank, a digital banking service under Santander, has started offering crypto trading in Spain. This move is part of a bigger trend where banks are starting to take cryptocurrencies more seriously. Just last month, bitcoin reached new highs, and this has caught the attention of many banks and their customers. Openbank's new service lets users buy, sell, and hold several cryptocurrencies. These include bitcoin, ether, Litecoin, Polygon, and Cardano. The service is available on their app and website. They plan to add more cryptocurrencies and even allow trading between different cryptocurrencies soon. For now, there's a small fee for each transaction, but no extra cost for holding cryptocurrencies. This isn't the first time Openbank has dipped into crypto. They've been offering similar services in Germany. And it's not just Openbank; other big banks are also getting into crypto. For example, BBVA recently advised wealthy clients to consider investing up to 7% of their portfolio in cryptocurrencies. This is a big change from a few years ago when banks mostly stayed away from crypto due to its risks. The crypto market is growing fast. More and more people are interested in investing in cryptocurrencies. Banks are now trying to meet this demand. But it's important to remember that crypto is still a risky investment. Prices can go up and down quickly, and there's no guarantee of making a profit. Openbank's move is a sign that crypto is becoming more mainstream. But it's also a reminder that banks are still cautious. They're taking small steps and offering a limited range of services. It will be interesting to see how this develops in the coming years.