Second-largest bank in Germany, DZ Bank gains approval to offer crypto services

The second-largest bank in Germany, DZ Bank, has received MiCA approval from BaFin to offer crypto services through its digital assets platform, meinKrypto. The Volksbanken and Raiffeisenbanken (cooperative banks) must now apply to BaFin for MiCA notification to enable customers to invest in crypto entirely digitally. 

According to DZ Bank, meinKrypto is a wallet integrated into the VR Banking app, designed to serve self-directed investors. It was developed by the IT service provider Atruvia for the cooperative financial group and DZ Bank.

The Stuttgart Stock Exchange Digital handles the custody of the crypto assets, while EUWAX AG manages the execution. However, the platform is not part of the advisory services for retail customers.

Meanwhile, Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Cardano (ADA) will be available at launch, but each cooperative bank reserves the right to decide individually whether to implement the crypto solution.

DZ Bank plans to add more crypto assets in the future, subject to regulatory requirements. A September 2025 study by the German Cooperative Banking Association revealed that more than a third of German banks plan to introduce the crypto solution in the coming weeks. 

DZ Bank pilot programs started December 2024 

Reports of DZ Bank’s intention to enter the retail crypto market surfaced for the first time in early 2024, but the pilot programs started in December that year. Souad Benkredda, a board member at DZ Bank, previously stated that the Frankfurt-based bank aims to offer a variety of crypto assets. The initiative targets investors who prefer to trade crypto independently without seeking financial advice.

DZ Bank’s foray into digital assets goes back to 2023, when the institution launched a crypto custody platform built using infrastructure from Metaco. However, Westwald Bank was the first cooperative bank to try out the meinKrypto platform before the gradual rollout to other financial institutions followed.

Meanwhile, DZ Bank is not the only major financial institution attempting to enter Germany’s crypto market. DekaBank, a part of the Sparkassen network, introduced its digital asset services last year, although it has limited its offerings to institutional clients exclusively. 

LBBW, another prominent financial institution within the Sparkassen network, partnered with crypto exchange Bitpanda during the second quarter of 2024 to offer digital asset custody services. LBBW’s crypto service is also limited, exclusively targeting corporate and institutional customers.   

DZ Bank brings crypto into mainstream banking

DZ Bank is preparing to integrate cryptocurrency into mainstream banking, with the bank now being legally permitted to operate a cryptocurrency trading platform within the EU framework. However, the operational and technical setup behind meinKrypto involves multiple regulated partners. 

MeinKrypto’s collaborative structure allows smaller banks to offer crypto services without the need to build their own infrastructure. It also centralizes risk management and compliance under established financial institutions. DZ Bank aims to remove technical barriers associated with digital assets by embedding crypto services into an established banking app.

Meanwhile, customers will not need to manage private keys or rely on external crypto exchanges. Instead, the trading experience has been structured to resemble traditional online banking transactions. The approach aligns with regulatory expectations under MiCA, which emphasize investor responsibility and transparency.

On the other hand, although DZ Bank has received MiCA approval, the phased meinKrypto rollout will occur on a bank-by-bank basis. Each cooperative bank must independently notify BaFin and opt into the crypto service.

Essentially, the structure enables individual banks to determine whether to incorporate crypto into their risk profile and customer strategy. Early indications suggest a strong interest within the cooperative banking network. 

Industry surveys have shown that over one-third of cooperative banks are preparing to embrace the platform. That level of interest also suggests increasing demand for regulated crypto access among retail banking customers. DZ Bank’s role is to provide the regulatory framework, infrastructure, and technical foundation for participating banks.

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