German banks gear up to target crypto market share in 2022

A number of major players across Germany are expected to make their way into the cryptocurrency industry in 2022, as the crypto-craze takes hold in its wake. Special Funds Cryptocurrency trading green light.

In a groundbreaking interview with the Financial Times, Maximilian Tainthal – co-founder of N26 (Europe’s largest fintech rival bank with a whopping $9 billion valuation) – revealed that after its exit from the UK and US fintech markets, the bank plans to do so. Double its offers to European customers.

“Should we build trading and cryptocurrency instead of launching it in the US? In hindsight, it might have been a smart idea,” Tainthal detection.

Specifically, the co-founder spoke about the ongoing plans to launch a cryptocurrency trading platform in 2022, with insights into expanding into a larger stock exchange in the future.

The decision forms part of N26’s strategic focus on securing European market share in digital banking, where nine million FinTech banking customers are driving significant demand for increased access to crypto products as competing banks continue to expand their crypto offerings.

Sparkasse Savings Banks Face Cryptocurrency Vote

More than 400 Sparkasse (domestic banks) are set to vote on the introduction of a pilot program that would enable the purchase of Bitcoin (BTC) and Ethereum (ETH) directly from checking accounts.

Leading German IT infrastructure company S-Payment has dedicated a team to build the concept, and with more than 50 million clients, a successful vote from independent banks could lead to exciting growth among German crypto holders.

With pilot polling expected early this year, the Sparkasse wallet could become a staple of digital assets across Germany very soon.

Read More: German Spezialfonds Agree to Allocate 20% of Funds to Cryptocurrency