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German Bank Partners with Bitpanda for Crypto-Asset Custody Services
German federal bank Landesbank Baden-Württemberg has collaborated with Bitpanda to introduce crypto-asset custody services in the latter half of 2024. This partnership aims to provide corporate clients with secure and regulated platforms for crypto-asset custody and procurement.
Partnership Details
- Bitpanda and Landesbank Baden-Württemberg plan to offer investing-as-a-service infrastructure for corporate clients.
- A pilot program is scheduled to commence in the second half of 2024.
Statements from Officials
Stefanie Münz, a board member at Landesbank Baden-Württemberg, emphasized the added value of crypto-asset custody for corporate clients. She highlighted the importance of maintaining high security standards.
Lukas Enzersdorfer-Konrad, CEO of Bitpanda Technology, described the partnership as a significant milestone for both entities.
Background Information
Landesbank Baden-Württemberg, a universal bank with substantial assets, has joined forces with Bitpanda, a prominent player in the crypto industry since its establishment in 2014.
Bitpanda holds various licenses and registrations across European countries, positioning it as a reliable partner for financial institutions venturing into digital assets.
Banks Embracing Digital Assets
Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien)
In January, RLB NÖ-Wien allowed its clients to trade digital assets via their banking apps, leveraging Bitpanda’s infrastructure. This move was considered a significant step forward for the crypto industry.
DZ Bank and Deutsche Börse Developments
DZ Bank, the second largest bank in Germany, is set to initiate a retail crypto trading trial in 2024, catering to private customers seeking independent access to cryptocurrencies.
Deutsche Börse has introduced the Deutsche Börse Digital Exchange (DBDX), a regulated platform for trading, settlement, and custody of crypto assets, targeting institutional clients.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
