cryptoHC
Posts
Traditional Finance Meets Crypto: Santander’s Openbank Applies for Crypto Service Licenses

Traditional Finance Meets Crypto: Santander’s Openbank Applies for Crypto Service Licenses

michael triumph
May 29, 2025

In partnership with

🚨 Key Takeaways:

Openbank, the digital banking arm of Banco Santander, has applied for licenses to offer cryptocurrency services.
This move signals growing institutional adoption and mainstream interest in digital assets.
It follows a broader trend of traditional banks stepping into the crypto space as demand surges for modern, blockchain-based financial solutions.

🔍 What is Openbank?

Openbank is the fully digital bank owned by Banco Santander, one of Europe’s largest and most influential financial institutions, with over €1.7 trillion in assets under management. While Santander is headquartered in Spain, Openbank serves customers across several European countries and is recognized for its tech-forward approach and innovative banking features.

With a mobile-first platform and AI-driven user experiences, Openbank represents the cutting edge of traditional finance — and now, it's setting its sights on crypto.

💼 Why This Matters

Openbank’s application for crypto service licenses comes at a critical time:

European regulations like MiCA (Markets in Crypto-Assets) are beginning to take shape, offering clearer guidelines for banks and institutions to engage with crypto legally and securely.
With increasing customer demand for exposure to Bitcoin, Ethereum, and other digital assets, banks can no longer afford to sit on the sidelines.
If approved, Openbank could offer crypto custody, trading, and potentially staking services, putting it in direct competition with crypto-native platforms — but with the trust and compliance record of a traditional bank.

🌐 The Bigger Picture

This move by Santander's Openbank reflects a broader shift in the financial landscape:

Traditional banks are evolving — crypto is no longer just a niche play for tech startups.
The barriers between TradFi and DeFi continue to blur as regulations become clearer and infrastructure matures.
Institutions like BlackRock, Fidelity, and now Santander are building bridges that could make crypto more accessible to the average investor.

📌 In short

Openbank’s entrance into the crypto space is a clear sign: legacy finance is betting big on blockchain. As trusted names move in, the line between "crypto companies" and "banks" is rapidly disappearing.

Stay tuned — the next crypto bull run might just be powered by the banks that once shunned it.

Sources:

You Don’t Need to Be Technical. Just Informed

AI isn’t optional anymore—but coding isn’t required.

The AI Report gives business leaders the edge with daily insights, use cases, and implementation guides across ops, sales, and strategy.