World Crypto Global
- Written by: Tareq Sikder
- Mon, 15 Apr 2024
- Israel
Landesbank Baden-Württemberg (LBBW), Germany's state-backedlender, has unveiled plans to venture into cryptocurrency custodyservices. In a strategic move, LBBW has announced a partnership with theAustrian exchange platform Bitpanda to facilitate this initiative.Expansion into Cryptocurrency CustodyThis collaboration aims to provide LBBW with the necessaryinfrastructure for "Investment-as-a-Service," enabling the storageand procurement of various cryptocurrencies, including bitcoin and ether."By offering crypto-asset custody, we are positioningourselves with a clear added value for our corporate clients while ensuringthe highest security standards," Stefanie Münz, the Member of the LBBW Boardof Directors responsible for Finance, Strategy and Operations, said in a pressstatement. "Bitpanda provides the necessary technical and regulatoryinfrastructure to offer our customers innovative and, above all, securesolutions in the area of digital assets."New partnership alert: Bitpanda x LBBW Landesbank Baden-Württemberg, Germany's largest federal state bank will enhance their digital asset offering in partnership with Bitpanda!Bitpanda Technology Solutions provides LBBW with an "Investment-as-a-Service" infrastructure in pic.twitter.com/hIwNXp9Wp4 Bitpanda (@Bitpanda_global) April 15, 2024Services to Launch for Corporate Clients in 2024Initially, the crypto custody services will be targetedtowards corporate clients, with a market launch scheduled for thelatter half of 2024. This reflects the increasing interest and demand forcryptocurrency-related services within the financial sector."The demand from our corporate customers for digitalassets is increasing. We are convinced that crypto assets will establishthemselves as a building block for further business models. With thecooperation, we are creating the technical and regulatory basis at an earlystage to best support the individual crypto strategies of our corporatecustomers," said Jürgen Harengel, the COO of Corporate Bank at LBBW.Earlier, BayernMunich, the German football club, announced a multi-year partnership with Bitpanda,as reported by Finance Magnates. Bitpanda has become the club's platinumpartner and official crypto trading sponsor. The partnership was revealed atBayern's home stadium, the Allianz Arena, during a match against TSG Hoffenheimon January 12 this year. This article was written by Tareq Sikder at www.financemagnates.com.
