In March we reported that DZ Bank had partnered with Börse Stuttgart to provide retail cryptocurrency trading and custody services to the clients of German co-operative banks. DZ Bank provides services to a network of 737 community banks, so called Volks and Raiffeisenbanke. Now it is starting to pilot the solution with the first bank, Westerwald Bank, opening crypto wallets and starting to transact. Many other co-operative banks are expected to go live in 2025, although the timing is up to each institution.
While these won’t be the first group of banks offering crypto services, it is still relatively novel for banks to provide crypto trading to retail clients. In Switzerland, the post office’s PostFinance launched crypto services in February. Other major German banks such as Commerzbank and LBBW are planning or started offering services, but only to corporate clients.
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