Germany’s Sparkassen savings bank network is initiating cryptocurrency trading for its retail customers. Through its mobile banking app, Sparkassen is offering trading of Bitcoin ($BTC), Ethereum ($ETH), XRP ($XRP), Solana ($SOL) and Polygon ($POL). The service is a step forward towards integrating digital assets into Germany’s traditional banking sector.

The bank is branding this crypto trading feature as ‘Crypto powered by Deka.’ It is because it is being provided by DekaBank, the securities and asset management arm of the Sparkassen-Finanzgruppe. Deka is offering this in cooperation with Börse Stuttgart. Users can access the service directly through the App Sparkasse without opening a separate brokerage account.

Sparkassen Sets Lenient Fees and Trading Limits for Crypto Purchases

Initially, the crypto trading service supports five cryptocurrencies. Users have to pay a flat fee of €0.99 per order. This is in addition to the bid-ask spread. There is no minimum order size, while the maximum transaction amount is €250,000. However, custody is provided without an additional fee.

DekaBank holds customers’ crypto assets. It means that users do not have to directly control the private keys. Direct transfers to personal hardware wallets are not currently supported.

The rollout is taking place gradually rather than across the entire Sparkassen network at once. Individual savings banks can determine when to introduce the service. The German Savings Banks Association (DSGV) expects another 30 to 40 institutions to join each month.

German Banks Respond to Growing Crypto Demand

The launch of crypto trading represents a notable development for Sparkassen. By incorporating crypto purchases and sales into an existing banking app, the network is offering customers a dedicated crypto exchange.

The rollout comes amid the development of the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. This framework has established rules for crypto-asset service providers across the bloc.