German Sparkasse group mulls cryptocurrency trading

What

German savings bank group Sparkasse is considering offering cryptocurrency trading services to its clients

Why

The new German coalition government has highlighted cryptocurrency as a focus during its legislative period

What next

A committee will vote on a project’s findings in the New Year

The story

German savings bank group Sparkasse is mulling plans to introduce cryptocurrency trading services for its clients.

A dedicated team at its S-Payment IT division is putting together a proposal that, if approved by a committee next year, could pave the way for cryptocurrency trading like Bitcoin and Ether to the group’s 50 million clients, Decrypt reports.

The news comes shortly after the investiture of the new coalition government in Germany, which has cited cryptocurrencies and blockchain technology among the main focuses for the country’s development in the next four years.

The plan implies that Sparkasse customers would be able to buy and sell cryptocurrencies directly via their current accounts without the need to go through additional verification procedures.

To discover more about Bitcoin and Ether, visit our Learning Portal here.

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