German Banks to Offer Cryptocurrency Services to Private Clients

According to BlockBeats, Germany's Sparkasse has decided to open cryptocurrency trading services, including Bitcoin, to private clients, breaking a long-standing ban. Meanwhile, Volks- und Raiffeisenbanken, the cooperative banking system in Germany, has been developing similar services, with plans to launch them this summer. The German Savings Banks and Giro Association (DSGV) announced that the savings bank financial group will establish a reliable channel to access regulated cryptocurrency services. Autonomous decision-making clients will be able to use crypto services provided by DekaBank through the Sparkasse app. DekaBank, a securities service company jointly owned by local savings banks, expects to complete the development of these services within a year, allowing clients to start cryptocurrency trading by summer 2026. Approximately three years ago, an internal committee within the savings bank system recommended against offering cryptocurrency trading services to clients. However, recent signs indicate growing interest in the field. In April, Matthias Dießl, chairman of the Bavarian Savings Banks Association, stated in an interview with Bloomberg, "Our savings banks should also offer cryptocurrency trading options to clients."