Scalable is expanding its platform, including the “Scalable Crypto” crypto offering, for Austrians. The neobroker can be used to invest in over 6000 shares, 1500 ETFs, and 2000 funds in Austria. The crypto offering works through exchange-traded products. The digital asset manager will provide a simple tax report that is made available to customers by KPMG. Scalable also offers a paid subscription, meaning that users who trade frequently will benefit from lower fees. The fees for individual trades are around EUR 3 per month, while in the free plan each trade costs around EUR 1 – except when trading some ETFs.
Crypto investments work in the form of securities via the Xetra (German Stock Exchange) and gettex (Munich Stock Exchange) exchanges. Users do not hold the cryptocurrencies directly and do not have their own wallets through which they could transfer the cryptocurrencies outside of the neobroker. Scalable keeps the cryptocurrencies behind the securities pooled at Coinshares. Scalable Capital is licensed as a securities institute in Germany and is currently active in Germany, Great Britain, France, Spain, Italy, and Austria.
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