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German banking giant Sparkassen-Finanzgruppe reportedly has plans to adopt crypto trading services, giving its more than 50 million customers access to crypto trading by the summer of 2026 in a major shift for the institution. Dekabank, a bank already involved in crypto, has been tapped to manage the new crypto service through the Sparkasse app, Bloomberg reported on Monday. Dekabank is owned by Sparkassen, also known as the Savings Banks Financial Group. “The Savings Banks Finance Group will provide reliable access to a regulated crypto offering,” the German Savings Banks Association (DSGV) said.   Adding that, the crypto service is responding to a demand and is already covered under the European Union’s regulatory framework for crypto, MiCA, which came into force in December. Source: Cryptojack Bank relents on crypto skepticism Sparkassen executives previously ruled out any crypto-related services, citing volatility and risk concerns; the banking giant also blocked crypto purchases for all customers back in 2015. While there has been a shift in direction, the DSGV reportedly said its “position remains clear, cryptocurrencies are highly speculative investments,” adding that there will be no advertising for the new service, and customers will be informed about risks, including the “potential for total loss.” Sparkassen-Finanzgruppe comprises over 50 million customers and 500 companies, including more than 370 savings banks, and has total aggregated assets under management of over 2.5 trillion euros ($2.9 trillion). German banks making crypto inroads Filipp Bolotov, founder and CEO of artificial intelligence and blockchain firm ERA Labs, said on Monday that Sparkassen’s shift into crypto was a ”big move for mainstream adoption.”  Source: Filipp Bolotov At the same time, crypto venture capitalist and Master Ventures founder Kyle Chasse said, “banks are catching up.”  Other German banks have already started making crypto inroads.  Germany’s second-largest financial institution, DZ Bank, partnered with…

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Filed under: News - @ July 1, 2025 6:29 pm