TechFlow, June 30 — According to Bloomberg, Germany's Sparkassen (savings banks) plan to offer private customers trading services for cryptocurrencies such as bitcoin, marking a significant shift in the banking group's policy. Three years ago, the German savings banks had clearly stated they would not provide such services.
The German Savings Banks Association (DSGV) announced on Monday: "The Savings Bank Financial Group will create a reliable, regulated access point for cryptocurrency services." In the future, customers will be able to access cryptocurrency services through the savings bank app, provided by DekaBank, an investment arm of the German savings banks.
Meanwhile, Germany's cooperative banks (Genobanken) are already developing similar services and plan to launch their cryptocurrency trading platform this summer.
