Germany’s Largest State Bank LBBW to Roll Out Crypto Custody Services in Partnership with Bitpanda

Landesbank Baden-Württemberg (LBBW), Germany’s leading state-backed financial institution, is embracing the growing interest in cryptocurrencies by teaming up with Bitpanda, an established exchange platform based in Austria. Through this collaboration, LBBW aims to introduce crypto custody services tailored to the needs of its corporate clientele. The partnership will leverage Bitpanda’s expertise in providing secure and regulatory-compliant infrastructure for handling digital assets.

Stefanie Münz, a member of LBBW’s board of directors overseeing finance, strategy, and operations, highlighted the significance of offering crypto-asset custody as a value-added service for corporate clients. She emphasized the importance of maintaining the highest security standards while catering to the evolving needs of clients in the digital asset space. Bitpanda’s robust technical and regulatory framework will play a crucial role in delivering innovative and secure solutions to LBBW’s customers.

Jürgen Harengel, the COO of Corporate Bank at LBBW, emphasized the rising demand for digital assets among corporate customers and the potential of cryptocurrencies as a fundamental component of future business models. By collaborating with Bitpanda, LBBW aims to establish the necessary technical and regulatory foundation to support the diverse crypto strategies of its corporate clients effectively. The planned market launch of crypto custody services in the second half of 2024 underscores LBBW’s commitment to meeting the evolving needs of its clients in the digital era.