Sparkassen once blocked crypto buys in 2015, calling them too risky and volatile. Now it’s preparing to hand its vast retail base regulated access to coins like Bitcoin and Ether.
The bank argues this shield keeps customers safe and keeps regulators happy. It’s a move that could set a model for other big lenders.
Sparkassen isn’t the only one. In September 2024, DZ Bank kicked off a pilot with Boerse Stuttgart Digital, aiming to roll out trading and custody to about 700 cooperative banks.
Industry voices see this as more than just a test. Filipp Bolotov, CEO of ERA Labs, said this is a “big move for mainstream adoption.”
Kyle Chasse, a digital currency venture capitalist, notes that banks are finally catching up to what retail and institutional clients want.
Sparkassen‑Finanzgruppe covers more than 370 savings banks and 500 companies. It manages over 2.5 trillion euros in assets. Giving even a fraction of its 50 million‑strong client base easy digital access could shift market dynamics in Europe. It’s a cautious step, but one with wide‑ranging effects.
Featured image from Go Real Travel, chart from TradingView
