Germany's largest state bank, Landesbank Baden-Württemberg (LBBW), plans to partner with cryptocurrency exchange Bitpanda to offer cryptocurrency custody services.
LBBW and Bitpanda will offer cryptocurrency custody services to institutional and corporate clients starting in the second half of 2024, the two companies said in a statement on Monday. "Demand for digital assets is increasing among our corporate clients," said Jürgen Harengel, managing director of LBBW's corporate banking business.
LBBW, whose owners include some German savings banks, the state of Baden-Württemberg and the city of Stuttgart, has about 333 billion euros ($355 billion) in assets. (Bloomberg)