According to local news sources, Germany’s largest savings bank Sparkasse plans to launch a crypto service in 2022.
Founded in 1778 and with more than 50 million customers, the bank’s move to cryptocurrency means that more than 50 million people have the potential to enter the crypto market.
💥BREAKING: Germany’s largest savings bank planning to allow customers to buy/sell and HODL #Bitcoin
Sparkasse has 50m customers! 🙌
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) December 13, 2021
Sparkasse bank, which is reported to have started working on a crypto wallet, will allow its customers to store Bitcoin and make purchases and sales transactions.
In the first phase, customers are planned to store their cryptocurrencies in this wallet. In the next stage, the bank will offer its customers a direct cryptocurrency purchase service.
Banks and corporate companies with a wide range of customers, such as Germany’s giant Sparkasse, invested directly or indirectly in Bitcoin in 2021.
While banks such as Sparkasse are working to provide Bitcoin services for their customers, Grayscale’s latest Bitcoin report also showed that investors tend to have Bitcoin as a long-term investment vehicle.
*Not investment advice.