Germany's largest banking group Sparkassen considers entry into the crypto-asset market… App-based Bitcoin trading under review
Summary
- It was reported that Sparkassen has officially declared entry into the crypto-asset market.
- It was announced that the provision of Bitcoin trading and similar services via the Sparkassen app is under consideration.
- The implementation of the MiCA regulatory framework is analyzed as a key factor influencing banks’ entry into the crypto-asset business.
Sparkassen, the largest banking group in Germany, is entering the crypto-asset (cryptocurrency) market.
According to CryptoPolitan, a specialized digital asset media outlet, Sparkassen plans to launch crypto-asset services, including trading support, within the next 12 months. DekaBank, the central institution of the Sparkassen group, will spearhead the development of these crypto-asset services.
Even in 2023, Sparkassen’s stance toward crypto-related businesses was somewhat lukewarm. At that time, Sparkassen’s internal committee pointed out, “Crypto-assets are highly volatile and risky” and “go beyond the realm of traditional banking.”
However, it is now believed that the implementation of the European Union (EU)’s MiCA (Markets in Crypto-Assets) regulation has significantly shifted perceptions of crypto-assets. The German Savings Banks Association (DSGV) even issued an official statement saying, “In the future, DekaBank’s cryptocurrency services will be available through the Sparkassen app.”
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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