The Biggest Federal Bank In Germany Will Provide Crypto Custody Services: Report

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In the second half of 2024, the Landesbank Baden-Württemberg will begin providing institutional clients with crypto custody services. In the second half of 2024, the Landesbank Baden-Württemberg, the biggest federal bank in Germany, will begin providing cryptocurrency custody services.

Together with the Bitpanda cryptocurrency exchange located in Austria, and Germany, the bank will begin providing crypto custody services to institutional clients. According to Jürgen Harengel, managing director of corporate banking at Landesbank Baden-Württemberg, Bloomberg has observed an increase in corporate demand for digital asset custody at the Federal Bank of Germany.

Bank In Germany Says Their Corporate Clients Have Been Requesting Lots Of Digital Assets

The Landesbank Baden-Württemberg will utilize Bitpanda’s institutional custody solution as part of its offering. According to Bitpanda’s homepage, Bitpanda Custody is a cryptocurrency custody platform with decentralized finance (DeFi) capabilities that is registered with the Financial Conduct Authority (FCA) of the United Kingdom.

According to Gonzalo Lamas, head of worldwide communications at Bitpanda, the bank will be able to access Bitpanda’s digital asset platform, custody services, and pertinent licenses thanks to the relationship. LBBW uses our “Investment-as-a-Service” infrastructure and services, which are utilized to source and offer custody services for cryptocurrencies like Bitcoin, Ethereum, and other digital assets, as part of this agreement. By working together, we hope to improve LBBW’s digital asset offerings and provide corporate clients with cutting-edge solutions and high security.