• Germany’s LBBW financial institution and crypto trade Bitpanda have introduced a partnership.
• The federal financial institution will use Bitpanda’s generation to increase its personal custody answer for crypto.

Landesbank Baden-Württemberg (LBBW), Germany’s biggest federal financial institution, has partnered with Austria-based crypto trade Bitpanda because it appears to be like to release its crypto custody services and products.

In the announcement shared on Monday, Bitpanda mentioned the LBBW will use the crypto trade’s generation to pilot its crypto custody and procurement services and products.

New partnership alert: Bitpanda x LBBW 🤝

Landesbank Baden-Württemberg, Germany’s biggest federal state financial institution will strengthen their virtual asset providing in partnership with Bitpanda!

Bitpanda Technology Solutions supplies LBBW with an “Investment-as-a-Service” infrastructure in… pic.twitter.com/hIwNXp9Wp4

— Bitpanda (@Bitpanda_global) April 15, 2024

As a part of the collaboration, Bitpanda Technology Solutions introduced LBBW get right of entry to to its “Investment-as-a-Service” infrastructure, which the financial institution will use to provide crypto services and products to its company shoppers.

The crypto custody answer will be offering get right of entry to to Bitcoin and Ethereum, with additional traits set for the approaching months.

“The demand from our corporate customers for digital assets is increasing. We are convinced that crypto assets will establish themselves as a building block for further business models. With this cooperation, we are creating the technical and regulatory basis at an early stage to best support the individual crypto strategies of our corporate customers,” Dr Jürgen Harengel, COO Corporate Bank at LBBW, mentioned in a remark.

According to Bitpanda CEO Lukas Enzersdofer-Konrad, the partnership between LBBW and the trade provides consumers an excellent street to get right of entry to virtual belongings.