Germany’s Largest Federal Bank LBBW to Offer Crypto Custody Services With Bitpanda

In simple terms, Landesbank Baden-Württemberg (LBBW) – Germany’s largest state-supported bank – intends to provide crypto asset safekeeping solutions in collaboration with the Austrian cryptocurrency trading platform, Bitpanda. They made this announcement on Monday.

“Through providing crypto-asset safekeeping, we are enhancing our corporate clients’ experience with us, while maintaining top-tier security,” expressed Stefanie Münz, LBBW board member overseeing finance, strategy, and operations, in a press release. “Bitpanda equips us with the required technology and regulatory framework to deliver advanced and most importantly secure digital asset services to our customers.”

Partnering with Bitpanda, LBBW intends to initiate providing cryptocurrency storage solutions for corporate customers by mid-2024.

“The need for digital assets among our business clients is growing. We believe that cryptocurrencies will become essential components for new business structures. By collaborating, we aim to lay the groundwork for both the technical and regulatory frameworks that will effectively serve our corporate customers’ unique crypto strategies.” (Jürgen Harengel, COO of Corporate Bank at LBBW)