Big Step from German Banks to the Crypto Sector

Landesbank Baden-Württemberg (LBBW), one of Germany’s leading banks, has partnered with Bitpanda to play a significant role in the cryptocurrency market. With this partnership, LBBW aims to offer custody and trading services for crypto assets to its institutional clients. Bitpanda will provide the technical infrastructure and take care of storing and trading crypto assets for LBBW’s institutional clients. The cryptocurrency exchange Bitpanda has held a Bafin license since November 2022. Digitalization and Innovation in the Crypto Sector As interest in the cryptocurrency sector in Germany increases, Commerzbank has taken the lead by obtaining its own crypto custody license. Deutsche Bank has also completed the process of obtaining a license to hold crypto assets. Since LBBW does not have a custody license, it chose to partner with Bitpanda. Bitpanda will initially offer services across various cryptocurrencies. Banking and Crypto Sector Collaboration The partnership between Bitpanda and LBBW will be carried out […]

Big Step from German Banks to the Crypto Sector

Landesbank Baden-Württemberg (LBBW), one of Germany’s leading banks, has partnered with Bitpanda to play a significant role in the cryptocurrency market. With this partnership, LBBW aims to offer custody and trading services for crypto assets to its institutional clients. Bitpanda will provide the technical infrastructure and take care of storing and trading crypto assets for LBBW’s institutional clients. The cryptocurrency exchange Bitpanda has held a Bafin license since November 2022.

Digitalization and Innovation in the Crypto Sector

As interest in the cryptocurrency sector in Germany increases, Commerzbank has taken the lead by obtaining its own crypto custody license. Deutsche Bank has also completed the process of obtaining a license to hold crypto assets. Since LBBW does not have a custody license, it chose to partner with Bitpanda. Bitpanda will initially offer services across various cryptocurrencies.

Banking and Crypto Sector Collaboration

The partnership between Bitpanda and LBBW will be carried out within a three-year framework. During this period, LBBW plans to offer services to private clients in the future. DZ Bank has announced that it will provide cryptocurrency trading services for private clients. These developments indicate the increasing interest of the German banking sector in the cryptocurrency market.

Useful Information for Readers

LBBW will offer custody and trading services for crypto assets to its institutional clients by partnering with Bitpanda.
Bitpanda will support LBBW in providing infrastructure and storing crypto assets.
The interest of German banks in the cryptocurrency sector is growing, leading to new services being developed in this area.
The partnership between LBBW and Bitpanda will cover three years and could potentially be expanded to private clients.

The interest of German banks in the cryptocurrency sector is paving the way for innovative services for both institutional and private clients. These partnerships are expected to enable the banking sector to play a more active role in the digital assets field.

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