After the Sparkasse, a regional association of the Volksbank dares to go alone in the direction of Bitcoin. Is the federal association doing the same now?
After the German Savings Banks and Giro Association On Monday, December 13, a pilot project for Bitcoin trading was publicly confirmed, the competition is now following suit. The regional association would like to do it alone Volksbank Raiffeisenbank Bavaria center (Total assets: 4.6 billion euros) also dare to venture into the crypto space. Specifically, it is all about Bitcoin trading and custody. An expansion of the service to other cryptocurrencies is not currently planned.
Board member Andreas Streb confirmed the plan in an interview with the internal customer magazine. The nearly 800 employees of the regional bank have already been intensively trained on the topics of Bitcoin and Blockchain to create a “broad understanding”. According to the board of directors, trading in digital gold should start next year. Volksbank wants to help clients get their own cold wallet. In addition, they are also working on their own solution for the custody of the cryptocurrency.
The technical details are not yet known, but the bank has already secured the trademark rights for the “VR-BitcoinGoCard”. So apparently a bank card on which Bitcoin can be stored.
Is the Federal Volksbank Association doing the same?
Volksbank Bayern Mitte’s solo effort should not have gone unnoticed within the entire association. In the bank environment, the move is expected to expand the model to other Volksbanks. Maybe even that Federal Association of German Volksbanks Raiffeisenbanks (BVR) decides to give the green light to Bitcoin trading, it should also depend on the customer’s response from the Bavarian provincial bank. A request from BTC-ECHO did not receive a response at the time of writing. However, if any movement comes from the BVR, more than 30 million customers would have access to Bitcoin.