On June 30, Bloomberg reported that the German Savings Bank Group (Sparkasse) has officially decided to introduce cryptocurrency trading services, including Bitcoin, to its private clientele, overturning a previous long-standing ban. Concurrently, the German Cooperative Banking System (Volks- und Raiffeisenbanken) is actively developing similar offerings, with a planned rollout slated for this summer. The German Savings Bank and Giro Association (DSGV) confirmed that the Savings Bank Financial Group aims to create a secure and regulated gateway for customers to access cryptocurrency products.
Customers will soon be able to trade cryptocurrencies via the Savings Bank APP, facilitated by DekaBank, a securities service provider jointly owned by regional savings banks. According to a DekaBank spokesperson, the platform’s development is projected to conclude within the next year, with trading services expected to launch by summer 2026. This marks a significant shift from the Savings Bank system’s stance three years ago, when an internal committee advised against offering crypto trading.
Growing demand for digital asset services is evident, as highlighted by Matthias Dießl, chairman of the Bavarian Savings Bank Association, who emphasized the necessity for savings banks to incorporate cryptocurrency trading options to meet evolving customer needs. This strategic move aligns with broader trends in regulated financial institutions embracing digital currencies under stringent compliance frameworks.