The reasons for this may be both the varied and high risks associated with cryptocurrencies and the fact that the relevant business models are relatively new, so that banks lack the necessary experience in evaluating the same. It remains to be seen whether and to what extent banks abandon their reluctance in the future and will open up the market with the alternative currency.
In any case, Fidor Bank AG has taken a first step:
Where outside capital of banks is lacking, venture capitalists are required. The German crypto asset market is therefore still significantly financed with private funds for the time being.
Start-up companies use their own funds and in part risk losing them in order to implement their business ideas. Business angels and venture capital companies do the rest, in order to provide promising crypto companies with risk capital - not least in their own interest.
As one of the leading German law firms in the area of crypto assets law and taxes, we provide legal advice to start-ups as well as private investors, banks, and other financial services providers interested in cryptocurrencies:
Do you want to invest in crypto companies or establish one of your own?
will gladly answer any questions revolving around banks and their connection with cryptocurrencies. You can reach them via e-mail (firstname.lastname@example.org) or by phone (+49 69 76 75 77 80).