Landesbank Baden-Württemberg, Germany’s largest federal bank, is planning to offer cryptocurrency custody services to businesses in the second half of 2024.
Partnership with Bitpanda
The bank has partnered with Bitpanda, a crypto custody platform with decentralized finance (DeFi) capabilities. Bitpanda’s platform will be used to provide custody services for cryptocurrencies such as Bitcoin and Ethereum.
Growing Demand for Digital Assets
Jürgen Harengel, managing director of corporate banking at Landesbank Baden-Württemberg, said that the demand for digital assets from corporate customers is increasing.
Other German Banks Prepare for Crypto Services
Deutsche Bank and DZ Bank, Germany’s second-largest bank, are also preparing to offer crypto services in response to the European Union’s Markets in Crypto-Assets (MiCA) regulation, which will take effect in December 2024.
