German Federal Bank Landesbank to Offer Crypto Custody Services With Bitpanda
German federal bank Landesbank Baden-Württemberg has entered a crypto partnership with Bitpanda to offer crypto-asset custody services in the second half of 2024.
In an announcement shared with CryptoNews, Bitpanda said over the next few months it will work with the German bank to provide corporate clients with a regulated platform using its “investing-as-a-service” infrastructure for crypto-asset custody and procurement. Bitpanda said a pilot is planned for the second half of 2024.
“By offering crypto-asset custody, we are positioning ourselves with a clear added value for our corporate clients – while ensuring the highest security standards,” said Stefanie Münz, member of the Landesbank Baden-Württemberg board of directors responsible for finance, strategy and operations in a press release.
“Bitpanda provides the necessary technical and regulatory infrastructure to offer our customers innovative and, above all, secure solutions in the area of digital assets,” said Münz.
“The partnership marks a milestone,” said Lukas Enzersdorfer-Konrad, CEO of Bitpanda Technology in the press release.
Landesbank Baden-Württemberg is a universal bank and the Landesbank for some Federal States of Germany with assets totalling approximately €333 billion ($354 billion).
Bitpanda was founded in 2014 in Austria by Eric Demuth, Paul Klanschek and Christian Trummer, achieving unicorn status in 2021. Bitpanda holds a Markets in Financial Instruments Directive II (MiFID II) license for securities firms, and several crypto licenses and registrations as a Virtual Asset Provider in numerous European countries.
In January, Austrian cooperative bank Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien) began allowing its clients to trade digital
