German savings banks are set to integrate cryptocurrencies into their services, allowing customers access to digital assets like Bitcoin and Ether. This initiative, developed through DekaBank, aims to be implemented within a year.
The move, approved by the German Savings Banks Association (DSGV), reflects a cautious approach, emphasizing the high-risk nature of crypto investments. Customers will be informed about potential risks, including the possibility of total loss.
Meanwhile, cooperative banks have already made progress, with a pilot phase underway since late 2024. The DZ Bank provides the technical platform, and expects Volksbanken and Raiffeisenbanken to offer crypto trading to private customers this summer.
Despite these developments, the savings banks remain cautious, advising against investments in Bitcoin and other cryptocurrencies. This reflects the growing integration of crypto into the traditional banking system.