The co-founder of N26 admitted to making a mistake in expanding in the US rather than focusing on crypto services. He promised that digital asset features would be available to its multi-million users by 2021.
N26, a German online bank, was founded almost a decade ago. It expanded into the UK and US over the past few years because it wanted to target international clients. However, Max Tayenthal, co-founder and chief executive of N26, has now changed his mind and announced that it will stop its UK operations in 2017 and that it plans to close its US operations in 2021.
“Should trading and crypto have been built instead of launching in the US?” It might have been smart in hindsight.” – Tayenthal.
N26 is currently working on cryptocurrency trading services and an equity brokerage platform. Its valuation is nearly three times that of the German company.
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