German Savings Bank schemes allow customers to invest in major digital currencies such as Bitcoin (BTC) and Ether (ETH) directly from a checking account.
The German-speaking country savings bank, known as Sparkassen, is working with a pilot to set up a home crypto vault and exchange next year, said Trade Magazine. Invest Monday.
The Pilot Project is subject to the approval of the Sparkas Committee early next year, while the Banking Association aims to produce related services by early 2022.
A spokeswoman for the German Savings Bank Association confirmed the news to Cointelegraph, saying:
“More and more customers are interested in crypto-assets. One in ten customers at German Savings Bank says they are or are crypto-assets. Given their expectations, the Savings Bank Finance Group will also look into crypto-assets. Will have to. ”
The delegation added that a group of German IT service provider S-Payment specialists “is looking for ways to provide cryptto-asset storage options for selected customers in Wales.”
The relevant pilot project should begin with each storage bank first, with each of the 370 sparkcasters independently deciding whether to introduce a crypto trade. According to capital sources, many banks have already shown great interest in the crypto sector.
Sparkassen is a group of commercial reserve banks, both operating independently in German-speaking countries, involved in a non-centralized system. With approximately 50 million customers, the savings bank is said to total 1 trillion euros ($ 1.2 trillion).
S-Payment did not immediately respond to Cointelegraph’s request for comment.
Germany has emerged as one of the world’s most popular countries, the Federal Financial Supervision Authority earlier this year issued a crypto business license for the German arm Coinbase. German stock market operator Deutsche Boerse Xetra has listed more than 20 crypto exchange products on digital exchanges.