Big Step from German Banks to the Cryptocurrency Sector

Landesbank Baden-Württemberg (LBBW), one of Germany’s leading banks, has collaborated with Bitpanda to play an important role in the cryptocurrency market. With this collaboration, LBBW aims to offer custody and trading services for crypto assets to its institutional clients. Bitpanda, on the other hand, will provide the technical infrastructure and take on the storage and trading of crypto assets for LBBW’s institutional clients. Bitpanda has held a Bafin license since November 2022. Digitalization and Innovation in the Cryptocurrency Sector Interest in the cryptocurrency sector in Germany is increasing, as Commerzbank has obtained its own cryptocurrency custody license, paving the way for innovation in the field. Deutsche Bank has also completed the process of obtaining a license to hold crypto assets. Since LBBW lacks a custody license, it chose to partner with Bitpanda. Bitpanda will initially offer services across various cryptocurrencies. Banking and Cryptocurrency Sector Collaboration The partnership between Bitpanda and […]

Big Step from German Banks to the Cryptocurrency Sector

Landesbank Baden-Württemberg (LBBW), one of Germany’s leading banks, has collaborated with Bitpanda to play an important role in the cryptocurrency market. With this collaboration, LBBW aims to offer custody and trading services for crypto assets to its institutional clients. Bitpanda, on the other hand, will provide the technical infrastructure and take on the storage and trading of crypto assets for LBBW’s institutional clients. Bitpanda has held a Bafin license since November 2022.

Digitalization and Innovation in the Cryptocurrency Sector

Interest in the cryptocurrency sector in Germany is increasing, as Commerzbank has obtained its own cryptocurrency custody license, paving the way for innovation in the field. Deutsche Bank has also completed the process of obtaining a license to hold crypto assets. Since LBBW lacks a custody license, it chose to partner with Bitpanda. Bitpanda will initially offer services across various cryptocurrencies.

Banking and Cryptocurrency Sector Collaboration

The partnership between Bitpanda and LBBW is set to span three years, with potential plans to expand services to private clients in the future. DZ Bank also announced that it will provide buying and selling services for cryptocurrencies to private clients. These developments indicate an increasing interest from the German banking sector in the cryptocurrency market.

Useful Information for the Reader

LBBW will provide custody and trading services for crypto assets to its institutional clients through a collaboration with Bitpanda.
Bitpanda will support LBBW in providing infrastructure and storage of crypto assets.
The interest from German banks in the cryptocurrency sector is leading to the development of innovative services for both institutional and private clients.
The partnership between LBBW and Bitpanda will span three years and potentially expand to private clients.

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

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