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7mo ago

Scalable Capital Wins Full ECB Bank Licence, Sets October Rollout for Interest and Loans

The neobroker shifts to a vertically integrated model under German supervision, signaling direct competition with N26, Trade Republic through deposits plus app-based credit.

Scalable Capital
Ein Logo des Unternehmens Scalable Capital. Scalable betreibt seit 2015 eine Plattform für Privatanleger; zu den angebotenen Finanzprodukten gehören unter anderem Aktien, Fonds und Kryptowährungen und Private Equity.
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Overview

  • The ECB approval makes Scalable Capital a CRR credit institution subject to BaFin and Deutsche Bundesbank oversight, enabling regulated deposit-taking and lending.
  • From October 1, customers earn a variable 2% rate on cash balances, with PRIME+ receiving no cap and FREE paying up to €100,000.
  • Cash in PRIME+ will be held at Scalable Capital Bank and partner banks, initially Deutsche Bank, HSBC Continental Europe and Münchener Hypothekenbank, with deposit-guarantee allocation shown in the app.
  • The new Credit product offers €1,000–€100,000 with variable rates starting at 3.24% in PRIME+ (4.24% in FREE), no fixed term, flexible repayment, no fees, and collateralization via eligible securities rather than crypto assets.
  • Scalable cites more than one million customers and over €30 billion on platform; trading hours on its European Investor Exchange expand to 7:30–22:00 from September 15.