Sparkasse's cryptocurrency trading service will open to its first customers on October 19, 2026, integrating five cryptocurrencies into its banking app without providing direct control over private keys. The service enables buying and selling through DekaBank but currently prohibits transfers to personal hardware wallets.
Key points
- Sparkassen's in-app services support five cryptocurrencies.
- The private key is held by DekaBank, and withdrawals are restricted.
- More than 230 institutions have expressed interest in joining.
- The transaction fee is €0.99 per trade, plus the bid-ask spread.
Sparkasse's cryptocurrency trading service comes with custodial restrictions.
Customers can trade Bitcoin, Ethereum, XRP, Solana, and Polygon through the service called "Crypto powered by Deka." DekaBank provides this service and has partnered with the Stuttgart Stock Exchange (Börse Stuttgart) to build the trading infrastructure.
Custody is still managed by DekaBank. Customers do not hold their own private keys, and the product page restricts withdrawals to addresses at only certain approved crypto service providers.
Direct transfers to personal hardware wallets are currently not permitted. This means customers can buy and sell these assets through their banking app, but cannot directly transfer their holdings to a hardware wallet they control.
The promotion targets more than 230 institutions.
Joachim Schmalzl, a member of the DSGV Executive Committee, said that more than 230 Sparkassen—about two-thirds of the total institutions—have expressed interest in launching this service. Each Sparkasse will decide its own launch timeline.
Schmalzl said the expansion of Sparkassen's cryptocurrency trading service is expected to onboard 30 to 40 new institutions per month, with the goal of connecting the majority of interested Sparkassen by the first half of 2027.
Customers do not need to open a separate securities account. Each order incurs a fee of €0.99, plus the bid-ask spread.
DSGV restricts this service to adult customers making autonomous decisions.
DSGV classifies cryptocurrencies as highly speculative investments and reminds clients that prices may fluctuate significantly, potentially resulting in the loss of the entire investment. This service does not provide investment advice nor is it intended for active promotion.
Its target customers are adults who can make their own investment decisions and understand the risks. In July, DSGV spokesperson Stefan Marotzke described the target audience as a small group of autonomous adults who intentionally invest in cryptocurrencies and are typically aware of the associated risks.
Schmalzl viewed customer demand and the reliable European MiCA regulatory environment as decisive factors in launching the service. For long-term wealth accumulation, the group still recommends securities and savings plans.
This article was generated with the assistance of artificial intelligence and reviewed by the editorial team.