Germany’s Largest Bank Group Sparkassen to Launch In-App Bitcoin Trading in Major Crypto Shift
In a landmark shift, Sparkassen—the largest banking group in Germany—is preparing to offer Bitcoin and other digital assets directly through its mobile app, opening the door for millions of customers to trade crypto with the same ease as checking their balance.
This move marks a major departure from Sparkassen’s traditionally cautious stance on digital currencies. Just last year, the German Savings Banks Association (DSGV), which oversees Sparkassen, dismissed crypto as too risky and volatile. Now, the group is pivoting, signaling a broader change in how traditional banks are approaching the future of finance.
Major Policy Reversal Within 12 Months
The new service, expected to launch within the next year, will be powered by DekaBank—Sparkassen’s central securities provider—and designed as a self-service option. Customers will be able to buy and sell cryptocurrencies like Bitcoin directly in the app, though without investment advice or branch-level support. Prominent risk warnings will be included, especially around crypto’s volatility and the potential for loss.
“Therefore, we will enable interested self-determinants to access DekaBank’s crypto offering via the Sparkasse app in the future,” the DSGV said in an official statement.
EU Regulation and Customer Demand Drive the Change
A key reason behind the shift is the European Union’s new Markets in Crypto-Assets Regulation (MiCAR), which gives banks a clear regulatory framework for offering crypto services. DSGV cited MiCAR’s clarity, rising customer demand, and competitive pressure as major factors that changed its stance.
In an April interview with Bloomberg, Matthias Dießl, chairman of the Bavarian Savings Banks Association, summed it up: “Our clients are asking for this.”
Traditional Banks Play Catch-Up
Sparkassen’s move follows similar steps by rival institutions. Germany’s DZ Bank, which serves the country’s cooperative banks, is testing a crypto trading service in partnership with the Stuttgart Stock Exchange. Fintech platforms like Trade Republic have already carved out large shares of the retail crypto market, adding pressure on traditional banks to modernize.
This comes amid a broader surge in interest in Bitcoin, which reached a record high of $111,970 in May. Over 200 companies now hold Bitcoin in their treasuries, and major investors like hedge fund manager Philippe Laffont have added it to their top long-term investment picks. Laffont believes Bitcoin’s market cap could rise to $5 trillion, up from around $2.1 trillion today.
A Cautious but Clear Step Into the Crypto Future
While the rollout won’t include financial advice or support from Sparkassen branches, it’s a clear step toward modernizing one of Europe’s most conservative banking institutions. The focus will be on “self-determined” users—those who choose to manage their crypto investments independently.
For Sparkassen, it’s a balancing act: meeting modern customer expectations while maintaining a cautious approach in a fast-moving and still-evolving market.
Featured image from: theblock.com