Openbank Launches Cryptocurrency Purchase and Storage Service
Date: 2025-09-17 Author: Oliver Abernathy Categories: BUSINESS
Openbank has announced the launch of a service allowing clients to purchase and store cryptocurrency. According to Coty de Monteverde, Head of Cryptocurrency at Grupo Santander, the bank will charge a 1.49% fee for each transaction, with a minimum transaction amount of €1 (approximately $1.18), while storing crypto assets is free.
The service was launched after the bank confirmed its compliance with the European Union's MiCA (MiCA). In the coming months, Openbank plans to expand support for other crypto assets and improve functionality for Spanish clients. Among the new features expected is the introduction of a cryptocurrency conversion function, allowing users to more easily manage their digital assets.
"We have added leading cryptocurrencies to our service offering to meet client needs and expand the capabilities of our technology platform, which is supported by one of the largest financial groups in the world," noted Monteverde.
Earlier in 2022, Santander Bank imposed limits on cryptocurrency transactions for UK customers, citing a desire to protect them from digital asset fraud. The company later announced plans to offer cryptocurrency trading services to Brazilian customers, expanding the international reach of its digital services.
Openbank now positions itself as a bank committed to integrating cryptocurrency into its core services, offering customers convenient tools for working with digital assets and international support. In the future, the bank plans to add new cryptocurrencies, improve its platform, and provide additional features for convenient fund management.
The launch of this new service thus reflects Santander's strategy to adapt to the growing interest in digital assets and provide a secure and accessible experience for users across Europe. This innovation makes Openbank more attractive to those looking to combine traditional banking services with modern digital investments.
