- BBVA has launched cryptocurrency trading and custody services for Bitcoin and Ether to retail customers in Spain.
- Spanish users can buy, sell, and hold these digital assets within the bank’s mobile app.
- The service operates under the European Union’s MiCA regulation to ensure investor protections.
- This is BBVA‘s third market launch for retail crypto services, following Switzerland and Turkey.
- The bank has expanded its digital asset offerings and previously ran successful experiments with tokenized assets.
BBVA, a major Spanish bank, is now offering cryptocurrency trading and storage services to its retail customers in Spain. The service, which covers Bitcoin and Ether, is available through the bank’s mobile app and aims to provide users with direct access to digital assets.
The rollout began after BBVA submitted required filings to Spain’s National Securities Market Commission (CNMV). Customers can now manage both cryptocurrency and traditional financial services from a single platform. This service operates in line with the European Union’s Markets in Crypto-Assets (MiCA) regulation, which standardizes crypto rules and offers protection for investors across EU member states.
According to Gonzalo Rodríguez, Head of Retail Banking for Spain, “We want to make it easier for our retail customers in Spain to invest in crypto-assets, through a simple and easy-to-access digital solution on their cell phone. Our goal is to support them as they explore digital assets, backed by the strength and security of a bank like BBVA.” The bank will not provide investment advice on these assets.
This expansion marks the third country where BBVA offers retail crypto services, after Switzerland in 2021 and Turkey in 2023. The initial launch in Switzerland was for private banking clients and later included Ether and the USDC stablecoin, without requiring investors to be accredited but with a minimum deposit of $10,000. In Turkey, Garanti BBVA now supports additional digital currencies such as Solana, XRP, and AVAX.
Francisco Maroto, who leads digital assets at BBVA, noted the bank’s ongoing work in both crypto and tokenized traditional assets. In past years, BBVA ran digital bond pilot programs that received industry recognition. Its asset management division has also explored blockchain-based tokenized investment funds in partnership with Allfunds Blockchain.
The launch in Spain expands BBVA‘s digital finance strategy and gives more retail investors access to regulated crypto trading within a familiar banking environment.
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