According to Bloomberg, Germany's largest federal bank, Landesbank Baden-Württemberg (LBBW), plans to start offering cryptocurrency custody services in partnership with the Bitpanda exchange.
In a joint statement, Landesbank and Bitpanda said that they will offer cryptocurrency custody services to corporate customers starting from the second half of 2024.
LBBW corporate banking general manager Jürgen Harengel stated the following in his statement:
“Our corporate customers' demand for cryptocurrencies is increasing. We did not remain indifferent to this demand.”
LBBW has approximately €333 billion ($355 billion) in assets under management.
*This is not investment advice.