German cooperative and savings banks are abandoning a traditional hard-line approach and opening access to cryptocurrency trading for millions of retail customers.

As Bloomberg reports, Germany’s banking sector long refrained from dealing with digital assets because of their extreme volatility and the risks to consumers. Now the situation has changed dramatically. Cooperative banks are already enabling trading in Bitcoin, Ethereum, Litecoin, and Cardano via a platform from DZ Bank. DekaBank will roll out a similar system for savings banks in phases by the end of the year.

The decision to offer the service remains with local branches, but market participants expect widespread adoption. DZ Bank says demand is high and predicts that hundreds of partner banks will soon join crypto trading.

Bankers are mainly betting on customer psychology. Polls show that Germans trust their main bank twice as much as specialized crypto exchanges. By offering token trading through familiar apps, traditional institutions hope to keep funds within the system and attract tech-savvy young people.

At the same time, industry associations and experts warn investors of the dangers. Cryptocurrency remains a speculative instrument capable of causing significant losses. The Association of German Savings Banks has already stressed that the new service is intended solely for retail traders who sensibly assess all financial risks.