In order to provide company houses planning to start at the end of 2024 with the necessary foundation for investment-as-a-service, LBBW and Bitpanda have formed an exclusive partnership. This will make it easier to acquire and store different cryptocurrencies, such Ether and Bitcoin. By the way, Bitpanda is an exchange platform that is situated in Austria.
The state-backed lender in Germany, LBBW, plans to offer cryptocurrency custody services. An initial step in that manner is the integration with Bitpanda. This further illustrates the growing need for and preference for cryptocurrency-focused solutions in the banking industry.
Stefanie Munz, a member of the LBBW Board of Directors in charge of Finance, Strategy, and Operations, claims that by providing for the safekeeping of cryptocurrency assets, they are ensuring that all safety precautions are taken care of in addition to providing value for their business clients.
In this instance, Bitpanda provides the necessary technological and legal framework to enable its customers to obtain innovative and secure services in the domain of digital assets.
According to Jurgen Harengel, COO of Corporate Bank at LBBW, their corporate clients’ needs for digital assets are completely on the rise. He believes that the crypto assets will establish themselves as a foundation for additional business modules. They are currently working to develop the foundational technical and regulatory elements necessary to support their corporate clients’ unique cryptocurrency strategies.
The German football team Bayern Munich has signed a long-term partnership with Bitpanda, according to Finance Magnates.
According to the agreement, Bitpanda is now a formal sponsor for cryptocurrency trading and a platinum affiliate of Bayern Munich. On January 12, 2024, while Bayern was playing TSG Hoffenheim, this information was leaked at the team’s home stadium, the Allianz Arena.