Santander’s digital lender Openbank has launched a cryptocurrency trading service in Spain, marking another step by mainstream European banks into digital assets. The rollout comes as traditional finance begins to integrate crypto offerings into regulated frameworks following growing customer demand. The service, which operates under the European Union’s Markets in Crypto-assets regulation (MiCA), allows clients to buy, sell, and hold a range of tokens including bitcoin, ether, Litecoin, Polygon, and Cardano directly within the Openbank app and website. Openbank said it plans to broaden its asset list and introduce crypto-to-crypto trading in the coming months. The bank will charge a 1.49% transaction fee or a minimum of one euro, with no custody charges. The launch in Spain follows a successful rollout in Germany earlier this year.
The expansion highlights how major European financial institutions are responding to a changing regulatory environment and the normalization of digital assets among consumers. Crypto trading, once viewed as speculative and high risk, is now being introduced within established banking ecosystems designed to offer security and transparency. Openbank’s entry follows a similar move by BBVA, which earlier advised wealthy clients to consider allocating up to seven percent of their portfolios to cryptocurrencies. The timing aligns with renewed enthusiasm in digital markets following bitcoin’s record highs last month, supported by a favorable policy stance from U.S. President Donald Trump. Analysts see Openbank’s offering as part of a wider trend among banks to capture growing retail and institutional demand while operating under compliant, monitored structures.
Santander’s broader digital strategy has increasingly emphasized innovation in blockchain and tokenization. The group’s private bank introduced bitcoin and ether investment services in 2023, marking its early participation in the regulated digital asset market. By extending crypto access to Openbank’s customer base, Santander is effectively moving digital assets from niche investment channels into everyday finance. The EU’s MiCA regulation, which took effect earlier this year, provides a harmonized rulebook for crypto service providers, ensuring transparency in pricing, custody, and risk disclosure. This has given European banks a clearer legal framework for crypto adoption and encouraged expansion of digital offerings across the region. Market observers believe that such regulated entry points will accelerate the inclusion of crypto within retail banking services, further bridging the gap between traditional finance and the digital asset economy.
Openbank’s launch also comes amid a wave of institutional activity across Europe’s financial sector. Standard Chartered introduced spot trading for bitcoin and ether through its UK branch in July, focusing on institutional clients. The convergence of large financial institutions and regulated frameworks signals a new stage for crypto integration in banking. As Openbank positions itself among the first EU-regulated retail platforms to offer comprehensive crypto trading, the move could redefine how European consumers interact with digital assets under a secure and compliant financial environment.
