LBBW has forged an exclusive partnership with Bitpanda, an Austria-based exchange platform, to establish the necessary infrastructure for investment-as-a-service tailored to businesses, set to launch by the end of 2024. This collaboration will enable businesses to store and access various cryptocurrencies like Bitcoin and Ether.

As Germany's state-supported bank, LBBW is venturing into cryptocurrency custody solutions, with the collaboration with Bitpanda marking a significant step in that direction. It reflects the growing interest in and demand for cryptocurrency-related services in the financial sector.

Stefanie Munz, a member of LBBW's Board of Directors overseeing Finance, Strategy, and Operations, emphasized that by offering crypto asset custody services, they are not only enhancing value for their business clients but also ensuring the highest level of security measures.

Jurgen Harengel, the COO of Corporate Bank at LBBW, noted a notable increase in demand for digital assets among their business clients. He believes that crypto assets will become a cornerstone for various business models, and LBBW is actively working on establishing the necessary technical and regulatory frameworks to support their clients' individual crypto strategies.

In another development, Bayern Munich, the German football club, has announced a long-term partnership with Bitpanda, where Bitpanda becomes the club's platinum partner and an official sponsor for crypto trading. This announcement was made at Bayern's home stadium, the Allianz Arena, during a match against TSG Hoffenheim on January 12, 2024.