Mass German Bank Sparkassen to Introduce Crypto Trading by 2026 as Banks Experience Growing FOMO

In a major move, German banking behemoth Sparkassen-Finanzgruppe is set to introduce crypto trading facilities for its 50 million+ clients by summer next year, as per a Bloomberg report released on Monday.

The crypto platform will be hosted within the Sparkasse app and overseen by Dekabank, a Sparkassen-owned entity already engaged in the crypto market. The German Savings Banks Association (DSGV) stated the development in confirmation:

"The Savings Banks Finance Group will make reliable access to a regulated crypto offering available."

The business will be launched under the European Union's MiCA (Markets in Crypto-Assets) regime, which came into operation in December 2024 and offers definitive regulatory direction for crypto activities in the EU.

From Crypto Skeptic to Crypto Provider

This represents a stark turnaround for Sparkassen, which had hitherto ruled out offering cryptocurrencies due to volatility and risk issues. Indeed, the bank banned all customers from making crypto purchases as far back as 2015.

Even with the policy change, the DSGV is still conservative:

"Our stance remains unchanged—cryptocurrencies are extremely speculative investments."

The association made clear that Sparkassen will not market the crypto product and users will be completely aware of risks, such as the possibility of complete loss.

The Sparkassen-Finanzgruppe consists of more than 370 savings banks and 500 financial institutions, managing overall assets of more than €2.5 trillion ($2.9 trillion).

Germany's Banking Sector Welcomes Crypto

Filipp Bolotov, founder of ERA Labs, referred to Sparkassen's crypto uptake as a "big move for mainstream adoption."

Kyle Chasse, Master Ventures' founder, contributed, "Banks are catching up."

A few other German banks have already begun taking first steps into the crypto space:

DZ Bank, the nation's second-largest bank, joined forces with Boerse Stuttgart Digital in September 2024 on a crypto trading pilot, hoping to roll it out to its 700-strong cooperative network.

Landesbank Baden-Württemberg, Germany's largest federal bank, launched crypto custody products for institutional investors in April 2024 in collaboration with Bitpanda.

Crypto Executives Anticipate Banking Boom in 2025

At Paris Blockchain Week (April 8), Messari CEO Eric Turner and Thomas Eichenberger of Sygnum Bank predicted that banks will be broadening their crypto capabilities in the latter half of 2025, particularly as regulators become more open to using crypto and stablecoins.

In another interview on April 30, Trump Organization's executive VP Eric Trump said:

"If banks don't get crypto, they'll be gone in 10 years."

He mentioned that the traditional finance system has been struggling with cost and speed of transactions as reasons why it is ripe for disruption.

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