Coinspeaker
Germany’s Top Federal Bank LBBW to Offer Crypto Custody Soon
In the latest development, Germany’s biggest federal bank – Landesbank Baden-Württemberg (LBBW) – with over $355 billion in assets under management has decided to offer cryptocurrency custodial services in partnership with the Bitpanda exchange. As part of the agreement, LBBW along with Bitpanda will offer crypto custody service to corporate and institutional clients starting from the second half of the year. Off lately, Germany’s banking institutions have become more active in the crypto sector.
These banking institutions have started developing their own crypto products and services while also offering custodial solutions before the EU regulations come into effect later this year. Also, the German Federal Bank stated that they have seen increased demand for crypto custody.
Speaking to Bloomberg, Jürgen Harengel, managing director of corporate banking at Landesbank Baden-Württemberg said
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