BBVA has received approval from the Spanish Securities and Exchange Commission (CNMV) to offer bitcoin and ether trading and custody services in Spain. This development allows the bank to begin its crypto offerings to retail customers, starting with a select group and expanding to all private clients in the coming months.
The new service aligns with the Markets in Cryptoassets Regulation (MiCA), which governs cryptoasset services within the European Union and will enable customers to seamlessly buy, sell, and manage bitcoin and ether directly through BBVA’s mobile app. This integration combines crypto trading with standard banking activities for a more convenient user experience.
A key feature of the service is BBVA’s proprietary cryptographic key custody platform, designed to maintain complete control over safeguarding customers’ cryptoassets without relying on third parties. The bank emphasizes that it will not offer advisory services; users will independently initiate their transactions.
Gonzalo Rodríguez, Head of Retail Banking in Spain, stated that the goal is to offer a simple and accessible way for customers to invest in cryptoassets via their mobile phones, backed by the security of a trusted financial institution.
“Our goal is to guide them as they explore this new segment of digital assets, backed by the solvency and security assurances provided by a bank like BBVA,”
he noted.
Notably, BBVA has expanded its cryptoasset services in Switzerland, launching bitcoin custody and trading for private banking clients in 2021. Recently, the bank introduced Circle’s USDC stablecoin to its high-profile clients, allowing the management of USDC alongside traditional investments on a single platform. This addition enhances transaction efficiency for institutional clients, including investment fund managers.
In 2023, Garanti BBVA in Türkiye established a crypto custody company to manage assets like bitcoin, ether, USDC, Solana, XRP, Avax, and Chiliz. BBVA is expanding its use of blockchain technology in financial services, with Spain becoming part of this initiative while emphasizing security and regulatory compliance.
BBVA has secured approval from the Spanish Securities and Exchange Commission (CNMV) to offer bitcoin and ether trading and custody services in Spain, according to an official announcement by the company. This milestone marks a significant step forward for the bank as it prepares to roll out its crypto offering to retail customers, starting with a small group before expanding to all private clients in the coming months.
The new service aligns with the Markets in Cryptoassets Regulation (MiCA), which governs cryptoasset services within the European Union, and will enable customers to seamlessly buy, sell, and manage bitcoin and ether directly through BBVA’s mobile app. The bank’s approach aims to integrate crypto trading with regular banking activities, providing a straightforward and convenient user experience.
A key feature of the service is BBVA’s proprietary cryptographic key custody platform, designed to maintain full control over safeguarding customers’ cryptoassets without relying on third parties. The bank emphasizes that it will not offer advisory services, and users will independently initiate their transactions.
Gonzalo Rodríguez, Head of Retail Banking in Spain, stated that the goal is to offer a simple and accessible way for customers to invest in cryptoassets via their mobile phones, backed by the security of a trusted financial institution.
“Our goal is to guide them as they explore this new segment of digital assets, backed by the solvency and security assurances provided by a bank like BBVA,”
he noted.
Building on its experience with cryptoasset services, BBVA previously launched bitcoin custody and trading services for private banking clients in Switzerland in 2021. More recently, the bank introduced Circle’s USDC stablecoin to its high-profile clients in Switzerland, allowing them to manage USDC alongside traditional investments on a single platform. This addition, the third cryptocurrency in BBVA’s Swiss digital asset service, aims to enhance transaction efficiency for institutional clients, including investment fund managers who trade across multiple exchanges.
Notably, in 2023, Garanti BBVA in Türkiye established a dedicated crypto custody company, managing various assets such as bitcoin, ether, USDC, Solana, XRP, Avax, and Chiliz. With Spain now joining the list, BBVA continues to leverage blockchain technology’s potential in financial services while maintaining a strong focus on security and regulatory compliance.
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