Just three weeks after launching in France, Berlin based online broker and retail wealth management company Trade Republic has announced the launch of its free current account with a local IBAN in Italy, along with automated tax submissions to local authorities.

Trade Republic, which claims over 8 million customers and more than €100 billion assets under management, said that its continued strong growth in international markets highlights the pressing need for private retirement planning across borders in Europe. More than one-third of Trade Republic’s customers now come from international markets, and the company indicated that this number continues to rise rapidly.

Christian Hecker, Co-Founder of Trade Republic said,

“Millions of Europeans have realized that their governments lack solutions for one of the most critical challenges of our time. The pension gap is a predictable and measurable problem that continues to be overlooked in political discussions. With our full banking license, national branches, and proprietary infrastructure, we are committed to develop localized and cost-effective savings products to empower people to take control of their financial future.”

Julian Collin, General Manager International Markets at Trade Republic added,

“The pension gap is a European problem. However, the solutions for our customers must be tailored to local needs. Our mission is to offer every European the best possible tools for long-term saving. Following France, Italy is the second major European market this year where we’ve localized our product. This is another step forward in driving European growth and increasing competition within the traditional banking sector.”

About Trade Republic

Trade Republic is on a mission to empower everyone to create wealth with easy, safe and free access to the financial system. With millions of customers across 17 European countries and over 100 billion euro in assets under management, Trade Republic has become the home screen app for Europeans to manage their wealth.

Trade Republic offers savings plans, fractional trading of shares, ETFs, bonds, as well as derivatives and crypto. On top of that, customers benefit from the Trade Republic card with 1 percent Saveback on card payments and a current account that pays the European Central Bank (ECB) interest rate to all customers. Trade Republic is a full-service bank and is supervised by the Federal Financial Supervisory Authority (BaFin) and Deutsche Bundesbank. The company has received growth capital from leading global investors such as Accel, Peter Thiel’s Founders Fund, Ontario Teachers’ Pension Plan, Sequoia, Creandum and TCV. The Berlin-based company was founded in 2015 by Christian Hecker, Thomas Pischke, and Marco Cancellieri.