According to a local business magazine, the savings bank (also known as Sparkassen) in German-speaking countries is launching a pilot project to launch an internal cryptocurrency wallet and exchange next year capital Report December 13th.
The pilot project needs to be approved by the Sparkasse committee early next year, and the Banking Association’s goal is to develop related services in early 2022. According to reports, a team of experts from German IT service provider S-Payment is designing the concept of the project.
The corresponding pilot project should start with a personal savings bank, and each of the 370 Sparkassen independently decides whether to introduce encrypted transactions.according to capitalMany banks have expressed their strong interest in encryption platforms.
Sparkassen is a commercial bank that operates savings banks in a decentralized structure in German-speaking countries, and each bank operates independently. According to reports, these savings banks have approximately 50 million customers and total assets of 1 trillion euros (1.2 trillion US dollars).
The Association of German Savings Banks and S-Payment did not immediately respond to Cointelegraph’s request for comment. This article will be updated while waiting for new information.
Germany has become one of the most crypto-friendly countries in the world, with the Federal Financial Supervisory Authority Issuing a license for encrypted custody business Provided services to Coinbase’s German branch earlier this year.German stock market operator Deutsche Börse also listed more than 20 crypto exchange trading products On its digital exchange Xetra.