Berlin-based neobroker, Trade Republic, has received a full banking licence from the European Central Bank (ECB), enabling an extended scope of financial services.

This development allows Trade Republic, previously reliant on banking partners like Deutsche Bank AG, JP Morgan SE, and Citibank Europe to manage customer funds, to now independently handle customer deposits and delve into creating a lending business.

Having last been valued at $5.3bn in 2021, Trade Republic offers a spectrum of trading and savings products, including commission-free trading options for retail investors.

“The full banking license opens up a new chapter for Trade Republic. Most of our customers are still in the early stages of their financial journey. The full banking license empowers us to support them over the next decades”, said Christian Heckler, co-founder of Trade Republic.

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