BlockBeats News, June 30th, according to Bloomberg, the German Savings Bank Group (Sparkasse) has decided to open up cryptocurrency trading services, including Bitcoin, to private customers, breaking a long-standing ban by the institution. At the same time, the German cooperative banking system (Volks- und Raiffeisenbanken) has already begun developing related services and plans to launch them officially this summer.
The German Savings Bank and Giro Association (DSGV) announced on Monday: "The Savings Bank Financial Group will establish a reliable channel for access to regulated cryptocurrency services." In the future, self-determined customers can use the cryptocurrency services provided by its subsidiary DekaBank through the Savings Bank app. This securities service company is jointly owned by various local savings banks. A DekaBank spokesperson told Bloomberg that the related services are expected to be developed within a year, and customers may start cryptocurrency trading in the summer of 2026.
Approximately three years ago, an internal committee within the savings bank system recommended against providing cryptocurrency trading services to customers. However, recent signs indicate a growing interest in this area, with Matthias Dießl, the chairman of the Bavarian Savings Bank Association, clearly stating in an April interview with Bloomberg: "We savings banks should also offer our customers the option of cryptocurrency trading."
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.