The Investment-as-a-Service (IaaS) infrastructure from Bitpanda will be provided to LBBW as the bank endeavors to give its corporate clientele “a regulated platform for the custody and procurement of crypto assets”.

According to the firms, Bitpanda will be the bank's long-term technology supplier, and a trial program for the bank's cryptocurrency custody services is scheduled to start in the second half of 2024.

According to Stefanie Münz, a member of the LBBW board of directors, "we are positioning ourselves with a clear added value for our corporate clients - while ensuring the highest security standards" by providing crypto asset custody.

The bank is "convinced that crypto assets will establish themselves as a building block for further business models," says Dr. Jürgen Harengel, COO of Corporate Bank at LBBW.

Bitpanda, a Vienna, Austria-based company founded in 2014, operates a regulated trading and investment platform and offers white-labelled technology and infrastructure as a service (IaaS) that financial institutions may use to deliver regulated trading, investing, and custody services to its clients.