The German Sparkasse banking network has launched cryptocurrency services within its mobile application, aiming to reach a customer base of nearly 50 million people. The phased rollout commenced on October 19, enabling users to conduct transactions with Bitcoin, Ether, XRP, Solana, and Polygon POL.
DekaBank is responsible for managing the execution and custody of these digital assets. The service is not yet available nationwide, as each individual local Sparkasse branch must choose to activate the offering. Currently, approximately 230 institutions have expressed interest in providing these crypto services.
The scope of the new service is limited to the specified cryptocurrencies, explicitly excluding stablecoins and meme coins. Furthermore, the bank has implemented restrictions that limit asset transfers to approved providers only.
