German savings banks officially enter the crypto trading sector, with the first institutional clients able to buy and sell crypto assets directly through the app.
BlockBeats news, October 19 - According to confirmation from the German Savings Banks and Giro Association (DSGV) to the media, German savings banks (Sparkassen) officially entered the cryptocurrency trading sector this Monday, with the first batch of participating institutional clients now able to buy and sell Bitcoin and other digital assets directly through their existing official apps.
The trading service launched this time is supported by Dekabank, the securities service provider of the savings banks, and jointly responsible for the custody of crypto assets with the Stuttgart Stock Exchange. The initial supported cryptocurrencies include Bitcoin, Ethereum, Ripple, Solana, and Polygon. In terms of fees, the service charges a low fee of only 0.99 euros per order, and users are not required to bind a traditional securities account, a move clearly aimed at directly competing on pricing with emerging mobile banks such as N26 and Trade Republic.
In terms of rollout pace, the service does not have a nationwide unified launch date but is instead determined by each savings bank based on its own circumstances. DSGV management board member Joachim Schmalzl stated that interest in this business within the group is very strong, with an expected 30 to 40 institutions following suit each month, aiming to cover most interested savings banks by the first half of 2027. He emphasized that the product is primarily aimed at customers who wish to buy, sell, and custody crypto assets independently; the savings banks do not provide investment advice and do not intend to conduct extensive proactive marketing in the initial phase.
For a long time, due to the severe volatility of cryptocurrencies, German savings banks have maintained a cautious attitude toward them. Schmalzl pointed out that the decision to enter the market this time was the result of careful weighing, with the decisive factors being strong customer demand and the reliable regulatory framework currently available in Europe, aimed at enabling customers with clear intentions to trade in a regulated and compliant environment. However, DSGV maintained a vigilant tone in its statement, reiterating that cryptocurrencies are "highly speculative assets," and customers will be explicitly warned of severe price fluctuations and the risk of total loss during operations. The banks also emphasized that for the public's long-term wealth accumulation, traditional securities investment, savings plans, and financial consulting remain their core business.
