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In Germany, the so-called Sparkassen The banks, or savings banks, are preparing to adopt cryptocurrencies in 2022.
According to local media reports, savings bank committees are working on a project that will allow them to offer digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency currency is a medium of exchange that defines value. trading services. A dedicated team from technology service providerS-Payment The concept is being prepared while the committees of the Savings banks are preparing to vote on the bill early next year.
Savings banks are an important sub-sector of public banks in Germany. Currently, there are around 370 savings banks incorporated under the umbrella of the German Savings Banks Association (German Savings Banks Association). EachSparkasse is independent, locally managed and focuses on customers in the region where it is located.
Savings banks project will be discussed to adopt cryptocurrencies in 2022
The launch of a cryptocurrency service by German savings banks could see a massive number of users enter the digital asset market.
Las savings banks have a combined customer base of 50 million people a figure that is very close refers to the closing price; similar to the same term used in stock trading. to the number of active PayPal accounts for the second quarter 2021 . Considered the market an area or arena, online or offline, in which commercial dealings are conducted. leaders among German financial institutions, the Savings banks handle approximately 1.4 billion euros, or USD $ 1.4 billion. 1,58 billones.
According to joint research byFinance Forward,Financial Scene yCapital capital is most commonly defined as the large sum of money you would use to invest.The approval of the project would allow savings bank customers to access services such as buying and selling cryptocurrencies directly through their bank accounts; this without having to resort to exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. platforms such asCoinbase is an American company that operates a cryptocurrency exchange platform. and without additional verification requirements.
Los reportes mencionan que las cajas de ahorro podrían adoptar monedas como Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. yEthereum a decentralized open-source blockchain with smart contracts functionality.. In the meantime, they add that municipal institutions would be working on developing their own digital wallets to prepare for this adoption.
The potential adoption of digital currencies comes at a time when the Savings banks have been expanding their payment support. In August of this year, German Sparkassen added support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. for Apple Pay . As reported by Finance Forward A few weeks after that announcement, Apple reported that 1.5 million Apple customers had been Sparkassen were already using Apple Pay.
According to the same media, the corresponding resolutions could be approved by the end of the first quarter, so that the first savings banks can launch the cryptocurrency during the course of the year, at least on a trial basis.
It should be noted that, at the end of the day, each savings bank will have to decide independently whether or not to offer cryptocurrencies to its customers, depending on the results of the vote on the project. The German savings banks and the Giro Association declined to comment on the plans when asked, the media outlet said. Capital .
- German law allows 4,000 institutional funds to invest investing is when you put money in a financial scheme with the intent of making a gain. in Bitcoin and other cryptocurrencies from today
- Coinbase receives license to operate as a cryptocurrency custodian a custodian is responsible for safely holding assets for an institution or individual for a variety of purposes. in Germany
- Cardano and Stellar available through Börse Stuttgart, Germany’s second-largest stock exchange
Sources: Capital ,Finance Forward , Decrypt
Article by Hannah Estefania Perez /DiarioBitcoin
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