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Traditional banking is finally embracing cryptocurrency in a way that could reshape retail investor access across Europe. This week, Spain’s-based Banco Santander (NYSE:SAN) rolled out digital currency trading on its Openbank platform—a move signaling that mainstream finance is betting big on crypto’s staying power.

Openbank, Santander’s digital banking arm, launched cryptocurrency trading in Spain on Tuesday. Customers can now use the bank’s app and website to buy, sell, and hold Bitcoin, Ether, Litecoin, Polygon, and Cardano.

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According to Reuters, the rollout follows a similar launch in Germany and comes on the heels of Spain’s Banco Bilbao Vizcaya Argentaria (NYSE:BBVA) entering the space earlier this year.

The timing isn’t accidental. Banks are responding to growing customer demand for crypto products after Bitcoin hit record highs last month—a surge Reuters attributes partly to supportive signals from U.S. policymakers. Just a few years ago, major financial institutions largely avoided cryptocurrencies over regulatory uncertainty and volatility concerns, making this shift a notable turnaround.

BBVA made waves in June when it advised wealthy clients to allocate up to 7% of their portfolios to cryptocurrencies—a striking endorsement from an institution that once steered clear of the asset class entirely. Now Santander is making the same bet available to everyday retail customers through its digital-first Openbank platform.

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Openbank’s service operates under the European Union’s Markets in Crypto-assets framework, providing regulatory clarity that has been sorely lacking in other jurisdictions. The platform charges a 1.49% fee per transaction with a one euro minimum and no custody fees—pricing that makes it competitive with dedicated crypto exchanges while offering the trust factor of an established banking brand.

The bank plans to expand its token offerings and add crypto-to-crypto conversions in coming months, suggesting this isn’t just a cautious toe-dip but a serious long-term play. Santander’s private banking division already launched bitcoin and ether trading in 2023, testing the waters before bringing these services to mass-market customers.