🇩🇪🔥New hot development that will excite the bulls: Crypto step from Germany's largest Federal Bank
Landesbank Baden-Württemberg (LBBW), the largest state-backed federal bank in #Germany , known as the most financially powerful country in Europe, will start providing crypto custody services to its corporate clients. The bank has also partnered with the Bitpanda exchange for this service.
The demand for crypto, which is growing like an avalanche in the world, LBBW, the largest federal bank in Germany, could not remain silent either. The bank will go into partnership with Bitpanda, an Austrian-based stock exchange, and start providing custody services to its corporate clients. The services will be provided from the second half of this year.
Stefanie Münz, one of the bank's board members, said in a statement, “We are bringing an extra sense of quality with this service we will provide to our corporate customers. Bitpanda exchange will provide us with the necessary support for this service, which will be provided with high security standards,”he said.
"Corporate demand is increasing”
Jürgen Harengel, one of the bank's managers, also stated that the demands received for this service at the corporate level are increasing every day and used the following statements:
Cryptocurrencies and digital assets will form an important building block for business models in the future. We believe in it. We were receiving more and more requests from our corporate customers every day, and we had to respond to this.”
Commerzbank, one of the most important banks in Germany, announced that it had started providing the same service in November 2023 and was the first in this sense.
The French giant Credit Agricole also has a crypto subsidiary.
