Germany’s Sparkassen Launches BTC, ETH, XRP, SOL and POL Trading Through Banking App

Germany’s Sparkassen savings bank network launched cryptocurrency trading on Monday, allowing customers to buy Bitcoin, Ethereum, XRP, Solana, and Polygon. The service is being rolled out through DekaBank and will be launched slowly in the participating savings banks, albeit with restrictions on transfers to personal wallets.

Sparkassen Launches Five Cryptocurrencies Through Banking App

Under certain conditions, the Sparkassen customers of DekaBank can trade five cryptocurrencies directly via the existing banking application. The offering is named “Krypto – powered by Deka,” and it enables trading in BTC, ETH, XRP, SOL, and POL.

The service can be used in the investment part of the Sparkasse app without the need for a separate securities account. Each transaction costs €0.99, although additional costs arise from the difference between buying and selling prices.

The launch comes after a series of initiatives by German banks to bring on-board cryptocurrency trading to existing customer accounts. DekaBank has created the Sparkassen service, and DZ Bank has backed up a separate rollout amongst Germany’s cooperative banks.

DekaBank is custodian of cryptocurrencies on its own wallet infrastructure and participates in trading arrangements with Börse Stuttgart. Users will have the ability to see their cryptocurrency assets in addition to various other monetary products and services in the current application.

DekaBank Restricts Crypto Withdrawals to Approved Providers

While it is possible to buy cryptocurrencies at Sparkassen, they cannot be transferred directly to private hardware wallets. DekaBank maintains the private keys, and only specific cryptocurrency service providers are allowed to make transfers.

The agreement involves customers having to trust that DekaBank will keep their digital assets safe and handle their permitted withdrawals. However, the restrictions do not prevent users from selling their cryptocurrencies through the banking application.

The service is aimed at adult customers who make it on their own, and Sparkassen will not give investment advice on cryptocurrencies. DekaBank also cautions investors that the value of digital assets could be volatile with a potential loss of investment.

The custody is part of a broader trend across German financial institutions, including Deutsche Bank’s cryptocurrency custody plans. These services are regulated under EU laws, such as the Markets in Crypto-Assets Regulation.

Sparkassen Plans Wider Crypto Trading Rollout Into 2027

More than 230 Sparkassen institutions have expressed interest in introducing cryptocurrency trading, according to German banking representatives. Each savings bank, however, will determine on its own if and when it will provide the service.

Around 30 to 40 institutions can join monthly, said Joachim Schmalzl, an executive board member of the German Savings Banks Association. The group is targeting the first half of 2027 for the largest number of interested banks to be connected.

The first phase is limited to the participating institutions and not nationwide through Germany’s savings banking network. Before opening a cryptocurrency account, customers should therefore inquire whether their local Sparkasse has switched on the service.

The expansion comes after the banking group’s earlier stance on digital assets. Sparkassen had previously been against the retail trading of cryptocurrencies due to concerns about price volatility and losses by investors.

The group is still pushing traditional securities and savings products as a way to build up long-term wealth, even with the introduction of cryptocurrency trading.