By John O’Donnell

FRANKFURT (Reuters – Germany’s banks of savings, a bastion of conservative Germans that hold more than 1 Trillion euros, are looking at offering a crypto wallet, a group said Monday.

The group’s traditional approach to lending and investing is still followed by its customers, who prefer cash over risky borrowing or high-risk investments.

These people are responsible for investing and saving approximately 50,000,000 customers. They make up Germany’s largest financial organization.

A spokesperson for banks stated that “the interest in crypto assets was huge.”

The news was first published by Capital, a German magazine.

This comes amid high inflation, penalty charges for banks and savers and a heated German debate about central bank money printing.

Germans are now more inclined to invest in property, and other investments to prevent what is being called the “expropriation” of their wealth.

Helmut Schleweis (president of German Savings Bank Association) called last month’s combination of rising prices and low interest rates a toxic mix, stating that it was becoming harder to prevent the loss of wealth.

The market capitalization of $1.2 trillion makes it the largest cryptocurrency in the world. Its strong rise has been fueled by inflation fears and its small supply being seen as providing protection.

Bitcoin is also battling for $2 trillion in market share with dozens of small rivals.

There are many “altcoins” that have been identified. Some, such as ethereum, aspire to become the financial infrastructure of the future. Some, like the, are rarely used in payment.

Retail punters often ignore the volatility of their investments, which can lead to heavy losses. They instead see the possibility of rapid profit.