• Germany's LBBW Financial institution and cryptocurrency alternate Bitpanda have introduced a partnership.
• The Federal Financial institution plans to make use of Bitpanda's know-how to develop its personal crypto asset custody answer.

Germany's largest federal financial institution, Staatsbank Baden-Württemberg (LBBW), has partnered with Austria-based cryptocurrency alternate Bitpanda to launch a crypto custody service.

Within the announcement share Bitpanda introduced on Monday that LBBW will pilot crypto custody and procurement providers utilizing crypto alternate know-how.

New partnership announcement: Bitpanda x LBBW 🤝

Baden-Württemberg Staatsbank, Germany's largest federal state financial institution, companions with Bitpanda to strengthen its digital asset providing.

Bitpanda Expertise Options offers “Funding-as-a-Service” infrastructure for LBBW… pic.twitter.com/hIwNXp9Wp4

— Bitpanda (@Bitpanda_global) April 15, 2024

As a part of the partnership, Bitpanda Expertise Options supplied LBBW with entry to its “Funding-as-a-Service” infrastructure. Banks use this to supply crypto providers to their company clients.

The cryptocurrency storage answer offers entry to Bitcoin and Ethereum, with additional improvement deliberate within the coming months.

“Company buyer demand for digital belongings is growing. We consider that crypto belongings will set up themselves as constructing blocks for additional enterprise fashions. Via this collaboration, we’re constructing early on the technical and regulatory foundations to finest help the person crypto methods of our enterprise clients.” stated Dr. Jürgen Hallenger, COO of LBBW Company Financial institution, in an announcement.

In keeping with Bitpanda CEO Lukas Enzersdofer-Konrad, LBBW’s partnership with the alternate offers clients with an effective way to entry digital belongings.