Germany’s largest state-backed real estate bank, Landesbank Baden-Württemberg (LBBW), is entering the crypto sector.
According to a report by Bloomberg, the giant German bank Landesbank Baden-Württemberg is preparing to launch crypto custody services.
The crypto custody services are said to be provided through the Bitpanda exchange, with LBBW and Bitpanda set to offer crypto custody services to corporate and individual customers from the second half of 2024.
Jürgen Harengel, LBBW’s head of corporate banking, said, “There is increasing demand for cryptocurrencies from our corporate customers.”
Last year, German Deutsche Bank took action by partnering with Swiss crypto infrastructure provider Taurus to provide crypto custody and tokenization services.
