"The best thing is, other banks that have not yet entered the crypto world can emulate his positive attitude."
Landesbank Baden-Württemberg (LBBW), Germany's largest state-backed lending firm is set to offer cryptocurrency custody services through a strategic partnership with an Austrian exchange platform called Bitpanda.
Therefore, LBBW will be provided with an "investment-as-a-service" infrastructure to store and obtain crypto including Bitcoin (BTC) and Ethereum (ETH) which are the most popular digital assets.
In addition to providing clear benefits to its corporate clients, Stefanie Münz, LBBW board member responsible for finance, strategy and operations, also said her team will ensure the highest security standards in offering digital asset care.
He added that Bitpanda provides the necessary technical and regulatory infrastructure to offer its customers innovative solutions, especially secure solutions in the field of digital assets.
As demand from corporate clients for digital assets continues to grow, LBBW is confident that crypto will establish itself as a building block for further business models.
This is because Jürgen Harengel who is the Chief Operating Officer (COO) of the Corporate Bank at LBBW believes that his collaboration with Bitpanda will create a technical and regulatory basis at an early stage for the best support of the strategy.
Please be informed that LBBW working hand in hand with Bitpanda will offer crypto custody services to corporate clients then plans for a market launch is expected to take place in the second half of 2024.
