Sparkassen-Finanzgruppe to Offer Crypto Trading by 2026

Germany’s Sparkassen-Finanzgruppe, the country’s largest banking group, has announced plans to launch cryptocurrency trading services for its 50 million customers by summer 2026. This initiative marks a significant shift in the group’s stance on digital assets, which it had previously rejected due to concerns over volatility.

Dekabank, a subsidiary of Sparkassen, will oversee the crypto offering through the group’s mobile banking app. This will enable customers to trade Bitcoin and Ether directly within the app, providing a seamless and integrated experience. The move is made possible under the EU’s Markets in Crypto-Assets (MiCA) framework, which took effect in December and allows for regulated crypto offerings.

The German Savings Banks Association (DSGV) confirmed the development, emphasizing that the new service will provide customers with reliable access to a regulated crypto offering. Despite the cautious approach, the DSGV acknowledged the growing momentum among German banks to integrate crypto services. The group has over 500 financial institutions, including more than 370 savings banks, and manages over €2.5 trillion in assets, giving the crypto initiative significant potential reach.

Sparkassen’s leadership had previously blocked crypto purchases for all customers in 2015 due to volatility concerns. However, the group has since changed its stance, recognizing the evolving landscape of digital assets. The DSGV has labeled cryptocurrencies as “highly speculative investments” and has promised no marketing campaigns for the new feature. Instead, customers will receive detailed information about the risks involved, including the possibility of total losses.

Industry voices have welcomed the move, with ERA Labs CEO Filipp Bolotov calling it a “big move for mainstream adoption.” Master Ventures’ Kyle Chasse also noted that banks are “catching up” to the evolution of crypto. 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. Meanwhile, Landesbank Baden-Württemberg announced plans in April 2024 to provide crypto custody services for institutional clients in collaboration with Bitpanda.

The momentum for crypto integration is not 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. 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.