Banco Santander Kicks Off Retail Crypto Trading in Germany

Banco Santander has expanded its digital services by launching retail crypto trading through its subsidiary Openbank in Germany. The move marks a significant step by Spain’s largest bank into the regulated digital asset sector. 

Customers can now access cryptocurrencies directly alongside traditional investments, with a rollout in Spain planned in the coming weeks. The development reflects growing momentum among Europe’s biggest lenders to integrate crypto offerings under the EU’s regulatory framework.

Santander Expands Crypto Services Through Openbank

Santander confirmed on Tuesday that Openbank clients in Germany can now buy, sell, and hold Bitcoin, Ethereum, Litecoin, Polygon, and Cardano directly on its investment platform.

The integration allows customers to manage cryptocurrencies alongside stocks, ETFs, and funds without relying on third-party platforms. According to the bank, the service operates under the European Markets in Crypto-Assets Regulation (MiCA) framework.

Coty de Monteverde, head of crypto at Grupo Santander, said the decision was driven by strong customer demand for digital assets. The bank also disclosed that Spain will be the next market to access the service, with an EU-wide rollout expected later. Additional tokens and features such as crypto-to-crypto conversions are planned for release in the coming months.

Openbank, headquartered in Madrid, serves over two million clients across Spain, Germany, Portugal, the Netherlands, the United States, and Mexico. Santander stated that the offering positions the platform to become a one-stop shop for retail investors seeking regulated access to both traditional and digital assets.

European Banks Accelerate Adoption Under MiCA

Santander’s entry into retail crypto trading is part of a broader wave of adoption among European financial institutions. Germany has become a key market in this shift, with several of its largest banks developing regulated crypto services. DZ Bank, the country’s second-largest lender, launched a crypto pilot in 2024 across 700 cooperative banks using Börse Stuttgart Digital’s infrastructure.

Deutsche Bank, the largest lender in Germany, announced in July 2025 that it would provide digital asset custody services from 2026 in partnership with Austria’s Bitpanda and Swiss firm Taurus. The bank’s head of digital assets, Sabih Behzad, confirmed it is considering entering the stablecoin sector, either through its own token or by joining existing projects.

Sparkassen-Finanzgruppe has also disclosed plans to roll out retail crypto trading to nearly 50 million German customers by mid-2026 via its Sparkasse app, with support from DekaBank and Börse Stuttgart Digital.

Santander itself has a history of experimenting with blockchain-based services. In 2018, it introduced One Pay FX, a Ripple-powered payments application enabling same-day international transfers across Spain, the UK, Brazil, and Poland. More recently, the bank has been evaluating opportunities in the stablecoin market, including potential dollar- and euro-pegged tokens.

The European Union’s MiCA regulation has provided the framework for banks to launch such services. While Spain has granted only three MiCA licenses so far — including one to Santander — the legislation is pushing more lenders to explore crypto offerings.