Germany’s largest federal bank, Landesbank Baden-Württemberg (LBBW), is set to introduce cryptocurrency custody services in collaboration with the Bitpanda exchange.
As reported by Bloomberg, LBBW, in partnership with Bitpanda, will extend its services to include cryptocurrency custody solutions. In a joint announcement, both entities revealed their plans to commence offering these services to corporate clients by the latter half of 2024.
Jürgen Harengel, the general manager of corporate banking at LBBW, addressed the growing demand for cryptocurrencies among their corporate clientele, stating, ”Our corporate customers’ demand for cryptocurrencies is increasing. We did not remain indifferent to this demand.”
Notably, LBBW manages assets totaling approximately €333 billion ($355 billion).
Featured image from: en.bitcoinsistemi.com