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German savings banks are planning to allow customers to invest in major digital currencies like Bitcoin (BTC<\/a>) and Ether (ETH<\/a>) directly from checking accounts.<\/p>\n Savings banks in German-speaking countries, also known as Sparkassen, are working on a pilot to launch an in-house cryptocurrency wallet and exchange next year, local business magazine Capital<\/em> reported<\/a> Dec. 13.<\/p>\n The pilot project is subject to approval by Sparkasse committees early next year, while the banking association aims to develop related services at the beginning of 2022.<\/p>\n A spokesperson for the German Savings Banks Association confirmed the news to Cointelegraph, stating:<\/p>\n “More and more consumers are interested in crypto-assets. One in ten customers of the German Savings Banks states he\/she owns or has owned crypto-assets. Considering their expectations, the Savings Banks Finance Group has to look into crypto-assets, too.”<\/p><\/blockquote>\n The representative added that an expert group from the German IT service provider\u00a0S-Payment is now “exploring ways to provide an option to safely store crypto-assets in a wallet for selected customers.”<\/p>\n A corresponding pilot project should start first with individual savings banks, with each of 370 Sparkassen independently deciding whether or not to introduce crypto trading. According to Capital<\/em>\u2019s sources, a number of the banks have already expressed significant interest in the crypto platform.<\/p>\n Sparkassen are commercial banks operating savings banks in German-speaking countries in a decentralized structure, with each bank operating independently. With around 50 million customers, the savings banks reportedly hold 1 trillion euros ($1.2 trillion) in total assets.<\/p>\n S-Payment did not immediately respond to Cointelegraph\u2019s request for comment.<\/p>\n Related: <\/em><\/strong>New German government cites crypto in coalition agreement<\/em><\/strong><\/a><\/p>\n Germany has emerged as one of the world\u2019s most crypto-friendly countries, with the Federal Financial Supervisory Authority issuing a crypto custody business license<\/a> for Coinbase\u2019s Germany arm earlier this year. German stock market operator Deutsche Boerse has also listed more than 20 crypto exchange-traded products<\/a> on its digital exchange, Xetra.<\/p>\n<\/div>\n