Germany’s largest bank to launch custodial service in conjunction with crypto exchange Bitpanda
The launch is expected in the second half of this year
15.04.2024 - 12:55
219
3 min
0
What’s new? Germany’s largest federal bank Landesbank Baden-Württemberg (LBBW) will launch a cryptocurrency storage service for institutional and corporate clients in cooperation with crypto exchange Bitpanda in the second half of this year. LBBW’s managing director of corporate banking, Jürgen Harengel, noted the strong demand for digital assets among the bank’s corporate clients.
What else is known? For Bitpanda, whose headquarters are located in Vienna, this is not the first cooperation with institutions from the traditional finance sector. For example, back in October 2022, German bank N26 launched the ability to trade more than a hundred cryptocurrencies in its mobile app together with a crypto exchange. Bitpanda within this product is responsible for executing trades and storing coins.
Last November, Austrian Raiffeisen Bank announced the launch of a cryptocurrency trading service for retail customers. They will be able to access Bitpanda via the Raiffeisen mobile app and confirm cryptocurrency transactions similar to bank transfers with the appropriate level of security.
Local banks and investment firms have been increasingly active in the crypto asset space, offering custodial services and developing their own products ahead of the entry into force of the pan-European MiCA regulatory rules for the digital asset industry, expected later this year.
Deutsche Boerse launches regulated crypto exchange for institutions
DBDX plans to offer its cryptocurrency trading services to clients in Germany and other European markets
In February this year, Germany’s third-largest bank DZ Bank announced piloting a trading service for BTC and other cryptocurrencies for retail customers. Earlier, German software giant SAP began testing USDC stablecoin for cross-border payments, and local DeFi platform Swarm launched a trading platform for tokenized assets.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$98 262
BTC
+3.46%
-
Ethereum
$3 326.88
ETH
+7.69%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.31
XRP
+17.58%
-
Dogecoin
$0.38449
DOGE
+0.07%
-
Cardano
$0.834321
ADA
+4.29%
-
Bitcoin Cash
$486.96
BCH
+8.83%
-
Polkadot
$6.02
DOT
+4.95%
-
Stellar XLM
$0.279449
XLM
+14.35%
-
Litecoin
$89.75
LTC
+6.13%