German federal bank to offer crypto to institutional and corporate clients

German federal bank to offer crypto to institutional and corporate clients

Germany’s largest federal bank is set to launch crypto custody services in collaboration with crypto exchange Bitpanda, targeting institutional and corporate clients.

Germany’s biggest state-backed lender with over $350 billion in assets under management, Landesbank Baden-Württemberg (LBBW), will launch crypto custody services for its institutional and corporate clients in the second half of 2024 in a move aimed at boosting the local market of virtual assets.

In an X announcement on Apr. 15. crypto exchange Bitpanda said it would provide the lender with its “investment-as-a-service” infrastructure so that LBBW could “offer crypto to their corporate clients.”

“The pilot for custody and procurement of cryptocurrencies such as Bitcoin, Ethereum and other digital assets will be further developed in the coming months.”

Bitpanda

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