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LBBW Forms Exclusive Collaboration with Bitpanda for Investment-as-a-Service
LBBW, Germany’s state-supported lender, has recently announced an exclusive collaboration with Bitpanda, an Austria-based exchange platform, to provide a framework for investment-as-a-service tailored for business houses. This strategic partnership is set to be launched by the end of 2024 and is designed to offer storage and access to a variety of cryptocurrencies, including Bitcoin and Ether.
By venturing into cryptocurrency custody solutions, LBBW is taking a significant step towards meeting the increasing demand for digital asset services within the financial sector. This collaboration highlights the growing interest in cryptocurrency-related offerings and the need for innovative solutions in the financial industry.
Adding Value and Ensuring Security
Stefanie Munz, a member of the LBBW Board of Directors responsible for Finance, Strategy, and Operations, emphasized that by introducing crypto asset custody services, LBBW aims to not only enhance value for its business clients but also ensure the highest standards of safety and security.
Bitpanda, with its robust technical and regulatory framework, will enable clients to access cutting-edge and secure digital asset services. This partnership represents a significant milestone in providing innovative solutions in the realm of digital assets.
Meeting the Growing Demand for Digital Assets
Jurgen Harengel, the COO of Corporate Bank at LBBW, acknowledged the increasing demand for digital assets among their business clients. He believes that crypto assets will form the foundation for future business models, and they are currently focused on building the necessary technical and regulatory infrastructure to support their clients’ individual crypto strategies.
According to reports from Finance Magnates, Bayern Munich, a prominent German football club, recently announced a long-term partnership with Bitpanda. As part of this collaboration, Bitpanda has become Bayern Munich’s platinum partner and an official sponsor for crypto trading. The announcement was made at Bayern’s home stadium, the Allianz Arena, during a game against TSG Hoffenheim on January 12, 2024.
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