What happened?
Santander’s Openbank integrated Cardano (ADA) into its tradable crypto offerings. The development has positioned ADA for a possible rally towards a $5 target. Openbank’s integration enables Santander’s 2 million customers to buy, sell and hold Bitcoin, Ether, Litecoin, Polygon, and Cardano along with their traditional investments directly through the digital banking platform.
Who does this affect?
This affects both retail and institutional investors, particularly Santander’s 2 million customers who now have direct access to a range of digital assets including Cardano. It also impacts the broader crypto trading landscape as it marks a significant step towards mainstream adoption and penetration of cryptocurrencies by traditional banking institutions.
Why does this matter?
The integration of Cardano into Santander’s Openbank holds substantial implications for the market. It signifies an increasing acceptance and adoption of cryptocurrencies by conventional banks, which could further establish cryptocurrencies as mainstream financial instruments. The move also indicates a potential rallying point for Cardano, which could see its market value climb, creating a ripple effect on the broader crypto market.