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Deutsche Sparkasse enters the cryptocurrency trading field, with the first batch of institutional clients able to buy and sell crypto assets directly through the App

According to a confirmation from the German Savings Banks and Giro Association (DSGV) to the media, the German Savings Banks (Sparkassen) officially entered the cryptocurrency trading sector this Monday. Institutional clients participating in the first batch can now directly buy and sell digital assets such as Bitcoin through their existing official app.The trading service launched is supported by the securities service provider of the savings banks, Dekabank, and is jointly responsible for the custody of crypto assets with the Stuttgart Stock Exchange. The initial supported trading currencies include Bitcoin, Ethereum, Ripple, Solana, and Polygon. In terms of fees, the service sets a low transaction fee of only 0.99 euros per order, and users are not required to bind a traditional securities account, which is clearly aimed at competing directly on pricing with emerging mobile banks like N26 and Trade Republic.In terms of the promotion schedule, the service does not have a unified national launch date but allows each savings bank to decide its own launch time based on its circumstances. Joachim Schmalzl, a member of the DSGV management, stated that there is strong interest in this business within the group, and it is expected that 30 to 40 institutions will follow suit each month, with the goal of covering most interested savings banks by the first half of 2027. He emphasized that the product is mainly aimed at clients who wish to independently buy, sell, and custody crypto assets, and the savings banks do not provide investment advice nor plan to conduct extensive proactive marketing in the initial phase.For a long time, due to the extreme volatility of cryptocurrencies, the German Savings Banks have maintained a cautious attitude towards them. Schmalzl pointed out that the decision to enter the market was the result of careful consideration, with the decisive factors being strong customer demand and the fact that Europe currently has a reliable regulatory framework, aimed at allowing clients with clear intentions to trade in a regulated compliance environment.However, DSGV still maintains a cautious tone in its statement, reiterating that cryptocurrencies are "highly speculative assets," and clients will be clearly warned of the risks of extreme price fluctuations and total loss when operating. The bank also emphasizes that for the long-term wealth accumulation of the public, traditional securities investments, savings plans, and financial consulting remain its core business.

first_img Richard Byworth: The next round of Bitcoin's rise is just a matter of time, as selling pressure reaches record lows

According to Bitcoin Magazine, Richard Byworth previously worked at Syz Capital, focusing his career on hedge fund structure design. In an interview with Bitcoin Magazine, he stated that the next round of Bitcoin's rise is just a matter of time.He pointed out that, based on data from on-chain analysis platforms like Glassnode, the current level of seller exhaustion has reached a historical high. Although the market does not exhibit an extreme bearish atmosphere, multiple on-chain indicators show that Bitcoin is strongly building a bottom. He mentioned that Bitcoin has been trading in the range just above $80,000 in recent weeks, and he believed that $58,000 was a bottom.Byworth also discussed Bitcoin yield strategies. He warned that using a covered call strategy during a bullish market could lead to significant losses of Bitcoin for investors, and advocated for earning low-volatility, market-neutral returns through basis trading collateralized by Bitcoin. He noted that Strive had bought three times the weekly issuance of Bitcoin in a single transaction within a week, believing that the next round of rise is just a matter of time.Regarding Bitcoin treasury companies, Byworth stated that the digital credit products designed by Saylor are putting pressure on the traditional bond market, as the yield on 10-year U.S. Treasuries is around 5.1% to 5.2%, and investors will see their returns eroded by the faster pace of currency depreciation. He mentioned followers like Strive and Metaplanet, and believes that Bitcoin could break its historical high again before the end of the year, and reaching $350,000 in about a year is not entirely impossible.
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