German Savings Bank To Offer Bitcoin Trading: Report Today

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  • The market leaders among German financial institutions are reportedly working on a bitcoin trading feature, which could launch in 2022.
  • The Sparkassen are centuries-old regional institutions with about 370 branches and 50 million customers.
  • The offering would cut down intermediaries and enable Sparkasse customers to trade BTC from their checking accounts.

Sparkasse, a German savings bank, is working to implement a bitcoin trading offering for its 50 million customers, according to a report by Finance Forward. The old municipal institution is reportedly preparing a service with which clients could start buying and selling BTC as early as next year.

The report said the previously secret project is located at the center of the DSV Group, the Deutsche Sparkassenverlag, whose subsidiaries and associated companies are closely involved with the savings bank organization Sparkasse. A dedicated team at the S-Payment division, where payment solutions for private and corporate customers of the savings banks are developed and marketed, is working on the project.

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