Germany’s Sparkassen-Finanzgruppe plans to launch crypto trading for its 50 million customers by summer 2026, marking a major turnaround for the country’s largest banking group.
Key Takeaways:
Sparkassen will launch crypto trading for 50 million customers by summer 2026. Dekabank will manage the new service, enabling Bitcoin and Ether trades directly in Sparkassen’s app. The move signals growing momentum among German banks to integrate crypto.According to Bloomberg, Dekabank, owned by Sparkassen, will oversee the crypto offering through the group’s mobile banking app, enabling direct trading of Bitcoin and Ether.
The German Savings Banks Association (DSGV) confirmed the move, stating it will provide customers with “reliable access to a regulated crypto offering,” now allowed under the EU’s MiCA framework, which took effect in December.
Sparkassen Reverses Course After 2015 Crypto Ban Over Volatility Fears
Sparkassen’s leadership had previously rejected crypto services due to volatility concerns and even blocked crypto purchases for all customers in 2015.
While the group has changed course, the DSGV stressed its caution, labeling cryptocurrencies “highly speculative investments” and promising no marketing campaigns for the new feature.
Customers will instead receive detailed information about risks, including the chance of total losses.
Sparkassen-Finanzgruppe spans more than 500 financial institutions, including over 370 savings banks, and manages over €2.5 trillion ($2.9 trillion) in assets, giving the crypto initiative significant potential reach.
Industry voices have welcomed the move. ERA Labs CEO Filipp Bolotov called it a “big move for mainstream adoption,” while Master Ventures’ Kyle Chasse said it shows banks are “catching up” to crypto’s evolution.
Other major German banks have already begun integrating crypto services.
DZ Bank, Germany’s second-largest lender, partnered with Boerse Stuttgart Digital last year to pilot crypto trading and custody services, aiming to expand offerings across its 700 cooperative banks after initial trials.
Meanwhile, Landesbank Baden-Württemberg, the country’s biggest federal bank, announced plans in April 2024 to provide crypto custody services for institutional clients in collaboration with Bitpanda.
The momentum isn’t limited to Germany. Speaking in April, Eric Trump warned that banks resisting crypto could become obsolete within a decade, highlighting issues of speed and cost in traditional finance.
And during Paris Blockchain Week, Messari’s Eric Turner and Sygnum Bank’s Thomas Eichenberger predicted a deeper push by banks into crypto services later this year as regulatory clarity improves.
Ric Edelman Urges Advisors to Allocate Up to 40% to Crypto
As reported, veteran advisor Ric Edelman is calling for crypto allocations of up to 40% in investment portfolios, a dramatic jump from his earlier 1% guidance.
He told CNBC that questions around government bans and institutional adoption have been resolved, making crypto a mainstream asset.
Edelman pointed to strong inflows into Bitcoin ETFs as evidence of crypto’s acceptance among investors and advisors.
He said the traditional 60/40 stock-bond portfolio no longer suits today’s longer life expectancies, requiring strategies with higher return potential.
Edelman also pointed out crypto’s uncorrelated performance with traditional assets, arguing that it can provide essential diversification and boost risk-adjusted returns.
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