Cryptocurrency transactions for individual customers were launched today on Germany’s Sparkassen banking network. The service, offered by DekaBank, is accessible to customers of participating
Cryptocurrency transactions for individual customers were launched today on Germany’s Sparkassen banking network. The service, offered by DekaBank, is accessible to customers of participating banks via the existing Sparkasse app.
The initial list of cryptocurrencies for the product, called “Krypto – powered by Deka,” includes Bitcoin, Ethereum, Solana, XRP, and Polygon. The announced transaction fee per order is set at €0.99.
Customers can buy and sell supported assets by opening a separate crypto account from the app’s investment section. Crypto assets will be stored via DekaBank infrastructure. The service is offered on a model where customers make their own investment decisions and it does not include investment advisory services.
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However, the service is not available to all Sparkassen customers at the same time. Each bank will independently decide whether to add the service to its products, and rollout will happen gradually in the coming months.
DekaBank’s announcement clarified the five cryptocurrencies included in the initial phase, as well as the access method and fee structure. Transactions at banks where the product is launched can be conducted through the crypto account within the banking application, rather than a separate crypto exchange account.
*This is not investment advice.
Continue Reading: Germany Begins Allowing Crypto Purchases Through a Banking App: Bitcoin and These Four Altcoins Are on the List
