Bitpanda, a cryptocurrency exchange, and Germany’s LBBW bank have established a cooperation.
The biggest federal bank in Germany, Landesbank Baden-Württemberg (LBBW), is planning to debut its crypto custody services and has teamed up with Bitpanda, an Austrian cryptocurrency exchange.
The LBBW will test out Bitpanda’s crypto custody and procurement services using the exchange’s technology, according to Monday’s release.
Bitpanda Technology Solutions shared its “investment-as-a-service” infrastructure with LBBW as part of the partnership. LBBW will use this infrastructure to provide crypto services to its corporate customers.
Additional features for the crypto custody solution, which will allow users to access Ethereum and Bitcoin, will be added in the next few months.
“Our business clients are showing a growing interest in digital assets. Crypto assets will solidify their position as a foundation for future business structures, in our opinion. Through this collaboration, we are laying the groundwork early on in terms of both technology and regulation to assist our corporate clients’ unique cryptocurrency strategies,” said Dr. Jürgen Harengel, COO of LBBW’s Corporate Bank.
The collaboration between LBBW and the exchange provides clients with an excellent means of accessing digital assets, asserts Bitpanda CEO Lukas Enzersdofer-Konrad.
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