The encrypted trading services of Sparkassen will be available to the first batch of customers starting from October 19, 2026. Five cryptocurrencies will be included in its banking application, but direct control over private keys will not be provided. This service allows for buying and selling through DekaBank, but currently, transfers to personal hardware wallets are prohibited.
Key Points
- The in-app services of Sparkassen support five types of cryptocurrencies.
- The private key is held by DekaBank, and withdrawals are restricted.
- More than 230 institutions have expressed their interest in joining.
- The transaction fee is 0.99 euros per transaction, plus the bid-ask spread.
The encrypted trading service of Sparkassen comes with custody restrictions.
Customers can trade Bitcoin, Ethereum, XRP, Solana, and Polygon through services named “Crypto powered by Deka”. DekaBank provides this service and collaborates with the Stuttgart Stock Exchange (Bö rse Stuttgart) to build the trading infrastructure.
Management is still the responsibility of DekaBank. Customers do not hold private keys themselves, and the product page limits withdrawals to only being able to be transferred to addresses of certain approved cryptocurrency service providers.
Currently, it is not allowed to directly transfer assets to personal hardware wallets. In other words, customers can buy and sell these assets within banking applications, but they cannot directly transfer their holdings to their own hardware wallets for storage.
Promotion targets more than 230 institutions.
Members of the Executive Committee DSGV stated that over 230 Sparkassen – accounting for about two-thirds of the total number of institutions – have expressed their desire to launch this service. Each Sparkasse will decide on their own timing for going live.
Schmalzl said that the expansion of Sparkassen's encrypted transaction services is expected to add 30 to 40 new institutions per month, with the goal of integrating most of the interested Sparkassen by the first half of 2027.
Customers do not need to open a separate securities account. There is a charge of 0.99 euros per order, in addition to the bid-ask spread.
DSGV Limits this service to adult customers who can make their own decisions.
DSGV classifies cryptocurrencies as highly speculative investments and reminds customers that prices may fluctuate significantly, with the possibility of losing all invested capital. This service does not provide investment advice and is not intended for active promotion.
Its target customers are adults who are capable of making their own investment decisions and understand the associated risks. DSGV Spokesperson Stefan Marotzke described the target audience in July as a small group of adults who make independent decisions, who are interested in investing in cryptocurrencies and generally understand the related risks.
Schmalzl considers customer needs and a reliable European MiCA regulatory environment as decisive factors in launching this service. For long-term wealth accumulation, the group still recommends using securities and savings plans.
This article was generated with the assistance of artificial intelligence and has been reviewed by an editorial team.
