Share this article
Germany's Largest Federal Bank LBBW to Offer Crypto Custody Services With Bitpanda
LBBW will first offer crypto custody to corporate clients with a market launch planned for the second half of 2024.
Updated Apr 15, 2024, 8:43 a.m. Published Apr 15, 2024, 8:40 a.m.
Make us preferred on Google
- German state-backed lender LBBW is set to offer crypto custody services to clients through a partnership with exchange platform Bitpanda.
- A market launch is planned for the second half of 2024.
Germany’s largest state-backed lender, Landesbank Baden-Württemberg (LBBW), is set to offer crypto custody services through a partnership with Austrian exchange platform Bitpanda, the company announced Monday.
The two firms have entered into a strategic partnership, which would see LBBW provided with “Investment-as-a-Service” infrastructure to “store and procure cryptocurrencies,” including bitcoin and ether .
STORY CONTINUES BELOW
"By offering crypto-asset custody, we are positioning ourselves with a clear added value for our corporate clients – while ensuring the highest security standards," Stefanie Münz, member of the LBBW board of directors responsible for finance, strategy and operations, said in a press statement. "Bitpanda provides the necessary technical and regulatory infrastructure to offer our customers innovative and, above all, secure solutions in the area of digital assets."
LBBW, in collaboration with Bitpanda, will first offer crypto custody services to corporate clients, with a market launch planned for the second half of 2024.
"The demand from our corporate customers for digital assets is increasing. We are convinced that crypto assets will establish themselves as a building block for further business models. With the cooperation, we are creating the technical and regulatory basis at an early stage to best support the individual crypto strategies of our corporate customers," said Jürgen Harengel, COO of Corporate Bank at LBBW.
More For You
More For You
Crypto group counters Wall Street bankers with its own stablecoin principles for bill
After the bankers shared a document at the White House demanding a total ban on stablecoin yield, the crypto side answers that it needs some stablecoin rewards.
What to know:
- The U.S. Senate's crypto market structure bill has been waylaid by a dispute over something that's not related to market structure: yield on stablecoins.
- The Digital Chamber is offering a response to a position paper circulated earlier this week by bankers who oppose stablecoin yield.
- The crypto group's own principles documents argues that certain rewards are needed on stablecoin acvitity, but that the industry doesn't need to pursue products that directly threaten bank deposits business.
Top Stories
