JAKARTA - Germany's federal bank, Landesbank Baden-W\"urttemberg, officially entered into a partnership with Europe's leading crypto investment platform, Bitpanda. This partnership is aimed at offering federal bank crypto asset custodies services to corporate clients.
This partnership marks an important step in the adoption of crypto assets by traditional financial institutions in Germany. Landesbank Baden-W\"urttemberg, with assets reaching 333 billion euros (Rp5,208 trillion), will utilize Bitpanda's "investing-as-a-service" infrastructure to provide a safe and secure crypto asset custody platform for its clients.
For Bitpanda, this partnership is an important achievement. Founded in 2014, Bitpanda has grown rapidly to become a unicorn with Markets in Financial Instruments Directive II (MiFID II) licenses and various crypto licenses in Europe.
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Previously, Bitpanda had collaborated with Raiffeisenlandsbank Nieder\"osterreich-Wien (RLB N00-Wien), allowing bank clients to trade digital assets through their banking applications.
Bank In Germany Offers Crypto
The Landesbank Baden-W\"urttemberg partnership with Bitpanda is one of many examples of traditional banks that have begun to embrace crypto assets.
In early 2024, DZ Bank, Germany's second-largest bank, announced plans to start a retail crypto trading trial, and Deutsche Börse launched a new spot platform for crypto assets targeting institutional clients.
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