Trading

German savings banks open cryptocurrency trading services to private customers

ChainCatcher news, according to Bloomberg, the German Savings Bank Group (Sparkasse) has decided to open cryptocurrency trading services, such as Bitcoin, to private customers, breaking a long-standing ban by the institution. Meanwhile, the German Cooperative Banking System (Volks- und Raiffeisenbanken) has already begun developing related services, with plans to officially launch them this summer.The German Savings Banks and Giro Association (DSGV) announced on Monday: "The Savings Bank Financial Group will establish reliable channels for accessing regulated cryptocurrency services." In the future, self-directed customers will be able to use the cryptocurrency services provided by its subsidiary DekaBank through the Savings Bank APP. This securities service company is jointly owned by various savings banks. A DekaBank spokesperson revealed to Bloomberg that the related services are expected to be completed within a year, and customers may start cryptocurrency trading in the summer of 2026.About three years ago, an internal committee of the savings bank system recommended not to provide cryptocurrency trading services to customers. However, recent signs indicate that interest in this area is warming up. Matthias Dießl, president of the Bavarian Savings Bank Association, clearly stated in an exclusive interview with Bloomberg in April: "We savings banks should also offer our customers the option of cryptocurrency trading."
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