Landesbank Baden-Württemberg (LBBW), Germany’s largest federal bank, has partnered with Bitpanda to bring cryptocurrency custody services to its corporate clients.
Bitpanda is set to provide LBBW with its Investment-as-a-Service (IaaS) infrastructure as the bank looks to offer its corporate clients “a regulated platform for the custody and procurement of crypto assets”.
The companies state that a pilot for the bank’s cryptocurrency custody services is set to begin during the second half of 2024, with Bitpanda positioned to serve as the bank’s long-term technology provider.
“By offering crypto asset custody, we are positioning ourselves with a clear added value for our corporate clients – while ensuring the highest security standards,” explains Stefanie Münz, member of the LBBW board of directors.
Dr Jürgen Harengel, COO of Corporate Bank at LBBW, adds that the bank is “convinced that crypto assets will establish themselves as a building block for further business models”.
Established in 2014 and based in Vienna, Austria, Bitpanda runs a regulated trading and investment platform and provides IaaS and white-labelled tech that can be used by financial institutions to offer their customers regulated trading, investment, and custody services.
Source: fintechfutures.com
