Overview
- Selected Sparkassen customers can trade cryptocurrencies through the Sparkassen app beginning Monday, using a new function rolled out by individual banks.
- The rollout is phased with about 30 to 40 additional Sparkassen joining each month and a goal to connect a large share of interested banks by the first half of 2027.
- The initial tradable tokens are Bitcoin, Ethereum, Ripple, Solana and Polygon, and the offering is aimed at customers who want to buy, sell and hold crypto themselves.
- Dekabank provides the trading service while custody of assets is handled in cooperation with Börse Stuttgart to keep the product inside a regulated framework.
- The DSGV warns of high speculation and risk of total loss, says Sparkassen will not broadly advise or actively promote the product, and positions the move as a regulated alternative to fintechs and cooperative banks.