Bloomberg reported that DZ Bank plans to launch a cryptocurrency pilot program later this year.

Souad Benkredda, a board member, told Bloomberg that the bank is the central institution of some 700 co-operative lenders. The bank wants to offer a range of cryptocurrencies.

Benkredda stated that, according to a Genoverband study, every second bank would like to offer this option to their customers. “In the end, each institution makes its own decision.” Genoverband is a consulting and auditing association that represents more than 2,500 co-operative organizations.

In November, the Frankfurt-based Frankfurt Bank, which manages $627 billion of assets, launched a cryptocurrency custodial platform. It was released months after the bank announced it would use Metaco’s solution to develop crypto-related services.

BTC Price Index and Live Chart – CoinDesk”>(BTC) trading comes alongside global adoption of cryptocurrencies among institutions, with the likes of BlackRock and Fidelity having their spot exchange-traded fund (ETF) applications approved in the U.S. last month, paving the way for billions of dollars worth of trading volume.

Sheldon Reback is the editor.