Technology

Germany’s trillion-euro savings banks mull crypto wallet

Germany’s savings banks, a conservative bastion that holds more than 1 trillion euros for thrifty Germans, is examining offering a wallet to trade cryptocurrency, a group of them said on Monday. The project marks a potentially radical departure from the traditional stance of the group, whose customers still use cash and eschew risky investing or heavy borrowing. Entrusted with the savings and investments of roughly 50 million customers, they make up Germany’s biggest financial group. “The interest in crypto assets is huge,” a spokesman for the banks said.

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OODA Analyst

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