German savings banks have begun work on a project for a cryptocurrency wallet for transactions with digital assets. The report comes from Capital.<\/p>\n
According to it, a team from IT services provider S-Payment is working on the concept. A vote on the pilot project is reportedly to be held in early 2022.<\/p>\n
The publication asserts that the plan provides for the ability to buy and sell digital assets directly through accounts. Clients will not have to undergo additional verification procedures.<\/p>\n
As of writing, Germany has around 370 savings banks. The combined customer base numbers around 50 million, assets under management are valued at \u20ac1.4 trillion ($1.58 trillion).<\/p>\n
Earlier, the parties of the new German government signed a coalition agreement, in which cryptocurrencies and blockchain technology are listed among the main directions for the country’s development over the next four years.<\/p>\n
In 2019 the German government passed a law allowing banks to buy and sell cryptocurrencies.<\/p>\n
In March 2020 the Federal Financial Supervisory Authority classified digital assets as financial instruments.<\/p>\n
In April 2021 the Bundestag approved a bill allowing institutional funds to invest up to 20% of assets in cryptocurrencies<\/a>.<\/p>\n Subscribe to ForkLog news on Telegram: ForkLog Feed<\/a> \u2014 all the latest, ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":" German savings banks have begun work on a project for a cryptocurrency wallet for transactions with digital assets. The report comes from Capital.<\/p>\n","protected":false},"author":1,"featured_media":54608,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,109],"class_list":["post-54607","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-germany"],"aioseo_notices":[],"amp_enabled":true,"views":"6","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=54607"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54607\/revisions"}],"predecessor-version":[{"id":54609,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54607\/revisions\/54609"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/54608"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=54607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=54607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=54607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}