Tuesday, 25 June 2024
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CryptoFinance

LBBW Will Use Bitpanda to Provide Crypto Custody Services

  • Via a strategic alliance with Bitpanda, LBBW will provide cryptocurrency custody services.
  • To store and acquire cryptocurrencies, the relationship will give LBBW access to the “Investment-as-a-Service” infrastructure.
  • LBBW and Bitpanda will first provide business clients with crypto custody services.

Via a strategic alliance with Austrian exchange platform Bitpanda, Landesbank Baden-Württemberg (LBBW), the biggest state-backed institution in Germany, will provide cryptocurrency custody services.

To store and acquire cryptocurrencies like bitcoin and ether, the relationship will give LBBW access to “Investment-as-a-Service” infrastructure. The alliance will offer value for corporate clients while guaranteeing the greatest security requirements, according to Stefanie Münz, board of directors at LBBW.

Bitpanda

For creative and safe digital asset solutions, Bitpanda will supply the required technical and legal framework. With a market launch scheduled for the second half of 2024, LBBW and Bitpanda will first provide business clients with crypto custody services.

The usage of cryptocurrency assets as the basis for new business strategies is anticipated to result from business clients’ growing demand for digital assets.

To effectively serve our corporate customers’ unique crypto initiatives, we are establishing the technological and regulatory foundation early on with this cooperation, according to Jürgen Harengel, COO of Corporate Bank at LBBW.

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