German Cooperative Banks Offer Limited Crypto Trading through VR Banking App

Some German cooperative banks have made Bitcoin and other cryptocurrencies available to their customers through the meinKrypto platform, which is licensed by DZ Bank and provided within the VR Banking App.

The platform allows customers to buy and sell Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Cardano (ADA) with a minimum of fuss, but it's not a full-fledged trading platform like other exchanges. The selection of cryptocurrencies is limited compared to what you'd find on a specialized exchange.

Each bank has its own price list for the service, which means that customers may pay different amounts for the same purchase depending on their institution. The commission and spread are not disclosed separately, making it difficult to compare costs across institutions.

The crypto-assets are held in omnibus wallets by Börse Stuttgart Digital Custody GmbH, a separate entity from DZ Bank. Customers can access a demo mode before trading with real money.