Germany's largest financial institution, Sparkassen-Finanzgruppe, is opening its doors to cryptocurrencies after years of cautious approach. According to Bloomberg, the bank is preparing to launch a service that will allow individual customers to buy and sell cryptocurrencies such as Bitcoin and Ethereum by summer 2026.
Sparkassen-Finanzgruppe's move into Bitcoin and ETH
Sparkassen-Finanzgruppe, Germany's largest financial group, plans to launch a cryptocurrency trading service for individual customers by summer 2026. According to Bloomberg, this decision signals the bank's departure from its years of cautious stance and its entry into the cryptocurrency sector.
Sparkassen serves approximately 50 million customers and had previously chosen to stay away from cryptocurrency services. The bank, which completely banned cryptocurrency transactions in 2015, maintained a distance from Bitcoin and other cryptocurrencies for a long time, citing their “excessive speculative nature.” However, changing regulations and increasing user demand have prompted the group to reevaluate this strategy.
In the new era, Sparkassen will manage its cryptocurrency services through Dekabank, a subsidiary of the group. Dekabank, which is already active in the cryptocurrency market, will enable users to easily buy and sell cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) through the Sparkassen mobile app.
MiCA effect
It is noted that this service has become possible thanks to the MiCA (Markets in Crypto-Assets) regulations, which came into effect in December 2023. MiCA provides a common legal framework for crypto businesses across the EU, making it easier for traditional institutions like banks to enter this field.
However, Sparkassen-Finanzgruppe is taking a cautious approach to the new service. In a statement by the DSGV (German Savings Banks Association), it was emphasized that cryptocurrencies are still high-risk and that no marketing campaign will be conducted for this service. Instead, users will be comprehensively informed about potential losses and risks before investing.
Sparkassen's strategic move aligns with the broader banking trend in Germany. DZ Bank launched a pilot cryptocurrency storage and trading service in 2024 in collaboration with Boerse Stuttgart Digital, covering 700 cooperative banks. Additionally, Landesbank Baden-Württemberg announced cryptocurrency storage services for corporate customers in April 2024 in partnership with Bitpanda.
Experts view Sparkassen's move as “a major threshold for mainstream adoption.” Filipp Bolotov, CEO of ERA Labs, argues that the shift toward crypto by large institutions like Sparkassen will enhance the sector's credibility, while Kyle Chasse of Master Ventures interprets this development as “banks finally trying to catch up with the evolution of crypto.”
