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Germany’s trillion-euro savings institutions are considering a crypto wallet.
Written by John O’Donnell Reuters — FRANKFURT (Reuters) — Germany’s savings banks, a conservative stronghold that stores more than 1 trillion euros for frugal Germans, are considering introducing a bitcoin wallet, according to a group of them on Monday.
Reuters — FRANKFURT (Reuters) — Germany’s savings banks, a conservative stronghold that stores more than 1 trillion euros for frugal Germans, are considering introducing a bitcoin wallet, according to a group of them on Monday.
The concept represents a potentially significant break from the group’s typical approach, in which clients still utilize cash and avoid hazardous investing or hefty borrowing.
They are Germany’s largest financial organization, having been entrusted with the savings and assets of almost 50 million people.
“The interest in crypto assets is enormous,” a bank spokesman stated.
The revelation was initially published in the German magazine Capital.
The decision comes amid rising inflation and penalty penalties for banks and savers, fueling a heated debate in Germany regarding central bank money printing.
It has motivated Germans to increase their investments in real estate and other areas in…
