Savings banks open crypto gate: Is the Bitcoin hype still safe?

Savings banks open crypto gate: Is the Bitcoin hype still safe?

The world of finance is changing, and the savings banks are now setting an example. From summer 2025, customers in Germany will be able to invest in cryptocurrencies such as Bitcoin and Ether via the Sparkasse app for the first time. This is a significant change in strategy, as until recently the savings banks had rejected cryptocurrencies as “highly speculative investments”. Now, customer interest and demand for access to digital assets appears to have influenced financial institutions' decision. Ruhr24 reports that the development of this new service is being driven forward by Dekabank, which is 100% owned by the savings banks.

But not all savings banks have to go along with it. Each institution has the freedom to decide whether they want to participate in the new crypto offering. This can mean that the offer will vary regionally. A spokesman for the German Savings Banks and Giro Association (DSGV) emphasizes that although they want to give customers reliable access to a regulated crypto offering, they will not offer any active advertising or advice on crypto assets. Customers continue to be advised of the existing risks, in particular the possibility of a total loss of their investments.

Competition stimulates business

The savings banks are in direct competition with Volksbanks, which have been testing crypto trading for private customers since the end of 2024. These banks are expected to offer crypto transactions across the board from summer 2025. In addition, neobanks such as N26, Trade Republic and Revolut, which have already established crypto trading, are entering the race. The demand for Bitcoin and other digital currencies has surged recently. Bitcoin has gained a remarkable 77% in value over the past year, influenced in no small part by rumors of potentially relaxed regulation under then US President Donald Trump. However, critics warn of a possible speculative bubble and point out the high power consumption of blockchain technology.

In summary, the introduction of crypto trading by savings banks represents a turning point in the financial landscape. Clients interested in this form of investing now find themselves in a new reality that presents both opportunities and risks. It remains to be seen how the offer will be received and what further changes will shape the banking landscape in the coming years. The institutions' willingness to embrace the digitalization trend could be beneficial for both the savings banks and their customers.