Germany’s largest banking group, Sparkassen-Finanzgruppe, is preparing to offer crypto trading services to its retail clients by summer 2026, Bloomberg News reported on June 30.
The move represents a significant policy shift for Sparkassen, which had previously avoided crypto offerings due to concerns about volatility and risk.
According to the report, the bank’s board of directors voted in 2023 to hold back from digital asset services, calling cryptocurrencies “highly speculative.” Now, Sparkassen will allow private clients to trade leading tokens, including Bitcoin and Ethereum, directly from their accounts.
Sparkassen’s wholly owned subsidiary, Dekabank, will develop and manage the platform.
Dekabank secured a crypto custody license under Germany’s Banking Act from the Federal Financial Supervisory Authority (BaFin), enabling it to provide trading and custody services for institutional clients. The upcoming retail expansion marks its next strategic milestone.
The decision follows the implementation of the EU’s Markets in Crypto-Assets (MiCA) regulatory regime, which established a single, harmonized legal framework for crypto businesses across EU member states.
MiCA’s clarity has emboldened several European banks to accelerate crypto initiatives once deemed too risky under fragmented national rules. However, German regulators continue to monitor crypto-related risks closely.
Bloomberg noted that the country’s anti-money laundering agency reported a record 8,711 suspicious activity reports tied to crypto transactions in 2024, even as overall financial crime alerts declined compared to prior years.
Officials have warned that digital assets remain an attractive channel for illicit flows despite improved compliance measures.
Sparkassen’s entry into retail crypto services reflects a broader European banking trend. Börse Stuttgart’s “Bison” app, along with similar initiatives from cooperative banks and Landesbanken, as well as Deutsche Börse, has demonstrated strong demand from retail investors for regulated crypto products in Germany.
Sparkassen’s nearly 50 million retail customers could significantly accelerate mainstream adoption of digital assets in Europe’s largest economy.
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