In developed countries, cryptocurrencies are edging ever closer towards the mainstream. The German authorities are loyal to virtual assets and understand that they have no right to impose any restrictions on the use of digital money.
The next step towards the widespread adoption of cryptocurrencies was a decision made by the management of Sparkassen, Germany's savings banks, to enable their clients to trade such cryptocurrencies as bitcoin and ether. Moreover, the group has already ordered an IT service provider to develop an in-house cryptocurrency wallet and are actively working on testing the technical capabilities of the new application.
“The interest in crypto assets is enormous; the Sparkassen-Finanzgruppe also sees it. At S-Payment, the subsidiary of the DSV Group that specializes in payment services, a project is therefore being carried out to determine which possibilities and risks a wallet offers in which customers of Sparkassen can safely store crypto assets,” a company spokesperson said.
In case of successful implementation, more than 50 million clients will be able to join virtual money trading. They will have an opportunity to buy bitcoins directly from their checking accounts. In the best-case scenario, the service will be available to customers in a pilot mode at several branches in the first quarter of next year.
Notably, Swiss bank BBVA with 47 million clients around the world has recently announced the addition of ether to its investment portfolio. However, it is not yet clear whether the bank's clients from abroad will be able to take advantage of this service. In Switzerland, cryptocurrency has long gained widespread acceptance among consumers. It can be purchased at ATMs, cash machines at railway stations, and department stores across the country. Besides, some major online stores accept bitcoin as a form of payment.
