German neobank N26 plans to shut down its U.S. operations, it announced Thursday. The service won't be available to U.S. customers after Jan. 11, 2022.
The company plans to expand into additional verticals such as investing and to other countries in Europe, it said in a release. N26 stopped its U.K. operations last year.
Last month, N26 was ordered by German regulators to slow down onboarding new customers due to potential money laundering issues.
Meanwhile, last month U.K. neobank Monzo said it had pulled its application for a banking charter in the U.S.