Germany's Sparkassen savings banks have launched cryptocurrency trading in their banking app, beginning with five institutions and a transaction fee of €0.99 per order.
The initial five participating banks are Frankfurter Sparkasse, Taunus Sparkasse, Sparkasse Karlsruhe, Sparkasse Rottal-Inn, and Niederrheinische Sparkasse RheinLippe. DekaBank, the securities firm owned by the savings banks, operates the service under the brand name Krypto powered by Deka.
Customers can trade Bitcoin, Ethereum, XRP, Solana, and Polygon without requiring a separate securities account. Each Sparkasse decides independently whether and when to join the service. The German Savings Banks Association expects 30 to 40 additional banks to join each month, with a goal to connect a significant share of interested Sparkassen by the first half of 2027.
Pricing and Trading Terms
Deka's pricing structure includes the €0.99 fee plus an undisclosed spread applied to each trade. The service operates on a request-for-quote basis, with Deka providing binding prices within a limited window. There is no minimum order requirement, though individual trades are capped at €250,000. Deka reserves the right to adjust pricing during periods of high volume or elevated volatility.
Custody and Withdrawals
Deka holds private keys in trust for customers through a shared omnibus wallet, with no custody fees charged. Withdrawals are free but can only be directed to addresses at four approved custody providers: Crypto Finance, Tangany, Bullish Europe, and Börse Stuttgart Digital Custody. Börse Stuttgart Digital Custody became the first German firm licensed under the EU's Markets in Crypto-Assets Regulation in January 2025 and provides custody services for this offering.
Risk Warnings and Insurance Coverage
The savings banks will not provide investment advice or conduct broad marketing for the service. Customers who trade receive explicit warnings about price volatility and the risk of total loss. Cryptocurrency holdings are not covered by statutory deposit insurance.
Reversal of Policy Position
The German Savings Banks Association initially proposed a crypto wallet for customers in December 2021 but voted against a crypto offering the following year. By early 2024, savings bank committees were advising their institutions to avoid crypto trading. The board reversed this position in 2025, citing customer demand and the regulatory framework established by the EU's Markets in Crypto-Assets Regulation.
