German Sparkasse bank plans to launch a cryptocurrency service in 2022 and has announced plans for a crypto wallet.
The biggest saving bank in Germany would support the purchase, selling, and holding of Bitcoin tokens.
The announcement comes as bitcoin gains traction among institutional investors. Investors own the cryptocurrency as a store of value. The retirees are reportedly also considering digital assets as an alternative investment.
The debut of the first bitcoin future ETF this year saw the price of the largest cryptocurrency skyrocket to $69,000 on November 10, before retracing to $48k.
Fear is reportedly the near-term sentiment in the crypto sector, a shift from extreme fear as recorded in the Crypto Fear and Greed Index.
Sparkasse was founded in 1778 and has over 50 million customers.