Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.
Landesbank Baden-Württemberg , Germany's largest federal bank, intends to begin offering cryptocurrency custody services in collaboration with the Bitpanda exchange. LBBW and Bitpanda announced Monday that they will begin offering crypto custody to institutional and corporate clients in the second half of 2024.Germany's largest federal bank's foray into the crypto market is expected to open up new avenues for institutional investors to access digital assets. With cryptocurrencies gaining popularity as an asset class, institutions are increasingly seeking exposure to this burgeoning sector.
German banks and asset managers have grown more involved in crypto assets, providing custodial services and developing their products for the asset class ahead of EU laws that are expected to take effect later this year.is building its digital asset custody service, and its DWS unit is part of a consortium that is developing a euro-denominated stablecoin.
As cryptocurrencies gain traction and recognition around the world, the move is expected to spur even more growth and innovation in the sector, resulting in increased investment and interest from institutional investors.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.