Santander's Openbank Launches Cryptocurrency Trading Service for Retail Customers

Openbank, the digital banking arm of Spanish financial giant Banco Santander, has launched a cryptocurrency trading service for its retail customers. The Madrid-based digital bank announced the new offering as part of its expanding financial services portfolio, marking Santander's direct entry into retail crypto trading. The cryptocurrency trading platform charges competitive fees of 1.49% on both asset purchases and sales, with a minimum fee of €1 per transaction, allowing retail clients to trade popular digital assets through Openbank's existing digital banking infrastructure.

Banco Santander, one of Europe's largest banks by market capitalization, has been expanding its digital banking presence through Openbank across multiple markets. The digital bank launched in the United States in late 2024 and had attracted over 100,000 customers with $4 billion in deposits by May 2025, demonstrating rapid growth in international markets. The crypto trading launch comes as Santander has been exploring broader cryptocurrency services, with reports indicating the banking group has been considering offering stablecoin services and expanding crypto access for its digital banking clients beyond just trading capabilities.

The digital bank has been central to Santander's transformation strategy toward digital-first banking operations. As part of this shift, Santander Bank recently agreed to sell seven branches in Pennsylvania, continuing its move away from traditional brick-and-mortar banking toward digital services. The cryptocurrency trading service represents Openbank's latest expansion of digital financial products as it seeks to capture market share in the competitive digital banking sector.