LBBW, Germany’s largest federal bank, could not remain silent about the snowballing demand for crypto in the world. The bank will start providing custody services to its corporate customers by partnering with Bitpanda, an Austria-based exchange. Services will be provided starting from the second half of this year.

Stefanie Münz, one of the board members of the bank, said in her statement: “We bring an extra understanding 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 managers, stated that the demands for this service on a corporate scale are increasing day by day and made the following statements:

“Cryptocurrencies and digital assets will form an important building block for business models in the future. We believe this. “We were receiving more and more demands from our corporate customers and we had to respond to them.”

Commerzbank, one of Germany’s important banks, announced that it started to provide the same service in November 2023 and was the first in this sense.

French giant Credit Agricole also has a crypto subsidiary.

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