Landesbank Baden-Württemberg (LBBW) – Germany’s largest federal bank – is poised to offer digital asset custody services and has teamed up with the crypto exchange Bitpanda.
The main goal is to meet the increasing demand for digital asset management among institutional and corporate clients and it is scheduled for release in the latter half of 2024.
According to the official announcement, LBBW will leverage Bitpanda Technology Solution’s advanced “Investment-as-a-Service” (IaaS) infrastructure to provide cryptocurrency custody and procurement services to its corporate clients.
Bitpanda said that the pilot for custody and procurement of cryptocurrencies such as Bitcoin, Ethereum, and other digital assets will be further developed in the next couple of months.
Commenting on the development, Dr. Jürgen Harengel, COO of Corporate Bank at LBBW, said,
“The demand from our corporate customers for digital assets is increasing. We are convinced that crypto assets will establish
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