Germany's largest banking group Sparkassen adds cryptocurrency trading services: report
Quick Take
- Sparkassen-Finanzgruppe is reportedly adding cryptocurrency trading services, according to Bloomberg.
- The bank previously decided to avoid such offerings due to concerns over volatility and risk.
Germany's largest banking group, Sparkassen, is reportedly adding cryptocurrency trading services for retail client accounts, according to Bloomberg. The move comes about three years after the board of directors decided to avoid such offerings due to concerns over volatility and risk.
Sparkassen-Finanzgruppe has decided to allow private clients to trade a variety of cryptocurrencies, including bitcoin and ETH, Bloomberg reported on Monday. The service is expected to launch by the summer of 2026
Dekabank, a wholly owned Sparkassen entity already involved in the crypto trade, is reportedly tapped to manage Sparkassen’s crypto services. Sparkassen executives have been critical of cryptocurrencies in the past, calling them "highly speculative.”
The move comes months after the Markets in Crypto-Assets Regulations came into effect, providing a unified legal framework for crypto businesses in the EU.
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