Tuesday, June 25, 2024

German Savings Banks To Develop A Service For Buying Cryptocurrency

A large German financial group serving over 50 million clients may admit them to trade in digital assets next year

German savings banks (Sparkasse) will develop a service next year that will allow their clients to trade cryptocurrencies, Stern reports .

According to the publication, the Sparkasse management will approve a new cryptocurrency direction in early 2022. After that, banks serving about 50 million customers will start offering them digital asset trading such as Bitcoin and Ethereum.

A pilot project for cryptocurrency trading is planned to start with several savings banks. Each of the 370 Sparkasse divisions across Germany will be able to independently decide whether to admit their clients to crypto trading or not.

On December 13, BBVA Switzerland provided its clients with the opportunity to invest in Ethereum. The Swiss branch of the bank claims that, according to its data, no European bank has previously provided such a service with an altcoin.

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