This development aims to make cryptocurrency investing more accessible and trustworthy for conservative investors by offering services through a fully regulated and established bank, helping normalize digital assets in mainstream finance.

Santander has a history of exploring blockchain applications, including Ripple-powered cross-border payments in 2018 and tokenized bonds on Ethereum in 2023, reflecting its long-term interest in blockchain technology.

In the US, following the July 2025 passage of the GENIUS Act, major banks such as JPMorgan, Citigroup, and Bank of America are exploring stablecoin issuance and retail crypto services, indicating growing institutional interest in digital assets.

Openbank offers competitive trading fees of 1.49% per transaction with a minimum of €1, and there are no charges for holding cryptocurrencies, making the service cost-effective for users.

Recent regulatory developments aim to reduce fragmentation and increase legal certainty for institutions involved in custody, trading, and issuing cryptocurrencies, supporting the broader adoption of digital assets.

The Office of the Comptroller of the Currency (OCC) now endorses crypto and banking crossovers, which could reshape competition and enable blockchain-based companies to operate with banking privileges.

Openbank's crypto launch is part of its broader strategy to expand digital financial services, leveraging regulatory support, low fees, and advanced technology to attract a wider customer base.

Spain's financial regulator, CNMV, has granted only three MiCA licenses to established banks—BBVA, CECABank, and Openbank—with BBVA having launched services earlier in 2025, indicating a selective licensing process.

Openbank has also launched an AI-powered broker platform providing target prices for over 1,000 European and US stocks, demonstrating its commitment to innovative financial services.

The bank's crypto trading platform complies with EU regulations such as MiCA, charging a 1.49% fee per trade, with plans to include transaction fees for crypto conversions in the future.

Grupo Santander's digital bank Openbank has launched crypto trading services in Germany, allowing customers to buy, sell, and hold cryptocurrencies like Bitcoin, Ether, Litecoin, Polygon, and Cardano, integrated within its existing investment products under the MiCA regulation.

This move reflects a strategic response to rising crypto adoption in Europe, with potential to encourage wider industry adoption if the pilot proves successful.