DZ Bank, Germany's second-largest bank, has obtained approval from BaFin under the Markets in Crypto-Assets (MiCA) regulation to offer cryptocurrency services through its digital asset platform, meinKrypto. This development requires the Volksbanken and Raiffeisenbanken, Germany's cooperative banking group, to seek MiCA notification from BaFin to enable their customers to invest in cryptocurrencies through a fully digital process.
Introducing meinKrypto: A Digital Asset Wallet
meinKrypto is a digital asset wallet integrated into the VR Banking app, specifically designed to cater to self-directed investors. This platform was developed by Atruvia, the IT service provider for the cooperative financial group and DZ Bank.
The custody of the crypto assets is managed by Stuttgart Stock Exchange Digital, while EUWAX AG handles the execution of transactions. It is important to note that the meinKrypto platform is not part of the advisory services offered to retail customers.
Initial Crypto Offerings and Future Expansion
At launch, customers will have access to Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Cardano (ADA). However, each cooperative bank retains the discretion to decide individually whether to implement the crypto solution for its customers.
DZ Bank has indicated plans to introduce additional crypto assets in the future, contingent upon regulatory requirements. A study conducted in September 2025 by the German Cooperative Banking Association revealed that over one-third of German banks intend to launch their crypto solutions in the upcoming weeks.
DZ Bank's Pilot Programs and Market Entry
Pilot Programs Commenced in December 2024
Initial reports regarding DZ Bank's intention to enter the retail crypto market emerged in early 2024. The bank's pilot programs for this initiative commenced in December of that year. Souad Benkredda, a board member at DZ Bank, previously stated that the Frankfurt-based bank aims to offer a diverse range of crypto assets. This initiative is specifically targeted at investors who prefer to trade cryptocurrencies independently, without requiring financial advice.
DZ Bank's involvement in digital assets dates back to 2023, when the institution launched a crypto custody platform built with infrastructure from Metaco. Westwald Bank was the first cooperative bank to trial the meinKrypto platform, paving the way for a gradual rollout to other financial institutions.
Competitive Landscape in Germany's Crypto Market
DZ Bank is not the sole major financial institution seeking to enter Germany's crypto market. DekaBank, a part of the Sparkassen network, introduced its digital asset services last year, though its offerings are currently restricted to institutional clients.
LBBW, another significant financial institution within the Sparkassen network, partnered with the crypto exchange Bitpanda during the second quarter of 2024 to provide digital asset custody services. LBBW's crypto service is also limited, exclusively serving corporate and institutional customers.
Integrating Crypto into Mainstream Banking
DZ Bank Facilitates Mainstream Crypto Adoption
DZ Bank is actively preparing to integrate cryptocurrency trading into mainstream banking, now operating legally within the EU framework under MiCA. The operational and technical aspects of the meinKrypto platform involve collaboration with multiple regulated partners.
The collaborative structure of meinKrypto enables smaller banks to offer crypto services without the need to develop their own infrastructure. This approach also centralizes risk management and compliance under established financial institutions. By embedding crypto services within an existing banking app, DZ Bank aims to eliminate technical barriers associated with digital assets.
Customers will not be required to manage private keys or depend on external crypto exchanges. The trading experience has been designed to mirror traditional online banking transactions, aligning with regulatory expectations under MiCA, which emphasize investor responsibility and transparency.
While DZ Bank has received MiCA approval, the phased rollout of meinKrypto will occur on a bank-by-bank basis. Each cooperative bank must independently notify BaFin and formally opt into the crypto service.
This structure allows individual banks to make their own decisions regarding the integration of crypto into their risk profile and customer strategy. Initial indications suggest significant interest within the cooperative banking network.
Industry surveys indicate that over one-third of cooperative banks are preparing to adopt the platform. This level of interest points to a growing demand for regulated cryptocurrency access among retail banking customers. DZ Bank's role is to provide the regulatory framework, infrastructure, and technical foundation for participating banks.