BBVA Receives Approval to Offer Bitcoin and Ethereum Trading in Spain

BBVA Gains Approval to Launch Retail Crypto Trading Services in Spain, Leveraging Own Custody Technology

  • BBVA receives regulatory approval to offer crypto services to retail clients in Spain, focusing on Bitcoin and Ether trading
  • Bank opts to develop proprietary custody technology rather than partnering with third-party providers
  • Expansion follows successful crypto initiatives in Switzerland and Turkey

Spanish banking giant BBVA has secured regulatory approval from the Spanish Securities and Exchange Commission (CNMV) to launch cryptocurrency trading services for its retail customers, marking a significant expansion of traditional banking into digital assets.

- Advertisement -

The bank’s new offering will enable customers to buy and sell Bitcoin and Ether directly through their mobile banking applications, with BBVA providing custody services using its own proprietary technology infrastructure. This approach distinguishes BBVA from other financial institutions that typically rely on third-party custody solutions.

Under current European regulatory frameworks, banks face streamlined requirements for crypto service provision. While the Markets in Crypto-Assets (MiCA) regulations require notification to local regulators, banks are exempt from registering as crypto asset service providers (CASPs), though they must still comply with MiCAR guidelines.

Gonzalo Rodríguez, Head of Retail Banking in Spain, emphasized the bank’s customer-centric approach, stating: “We want to make it easier for our customers to invest in cryptoassets with a simple, accessible offering available directly from their mobile phones, in a fully digital manner… 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.”

BBVA’s latest venture builds upon its established track record in cryptocurrency innovation. The bank’s Swiss division pioneered retail crypto services in 2021, while its Turkish subsidiary, BBVA Garanti, launched Garanti BBVA Digital Assets in 2023. The bank has also demonstrated leadership in tokenization, having conducted various digital bond issuance trials in 2018/2019, earning industry recognition.

The bank’s decision to develop in-house custody solutions contrasts with industry trends, where many institutions have partnered with specialized providers like Fireblocks, Taurus, or Metaco (now owned by Ripple). This autonomous approach may help BBVA avoid challenges faced by other banks, such as State Street’s unsuccessful partnership with Copper and the strategic reviews triggered by Ripple’s acquisition of Metaco.

✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.

Previous Articles:

- Advertisement -

Latest

American Engineer Drugged, Robbed in Sophisticated London Crypto Heist

An American software engineer lost approximately $123,000 in cryptocurrency after being drugged and robbed in London.The victim was targeted by an impersonator posing as...

Max Keiser Doubts New Bitcoin Treasuries’ Discipline in Bear Market

Bitcoin-focused companies are increasingly copying the treasury strategy used by Michael Saylor's Strategy.Max Keiser raised doubts about whether these newer companies can maintain commitment...

South Korea Election Puts Crypto Policy at Center of Debate

Nearly one-third of South Koreans hold digital assets, making crypto a vital issue in the upcoming presidential election.Both major parties support crypto exchange-traded funds...

Scottsdale Residents Lose $6M to Crypto Scams; Police Respond

Scottsdale residents have reported losing over $6 million to cryptocurrency Scams in 2024.Authorities say actual losses could be higher, as not all cases are...

Ethereum Bullish Patterns Signal Altseason, 55% Rally Possible

Ethereum is showing two bullish chart patterns against Bitcoin, indicating a possible 30–55% price increase. Crypto analysts say an ETH/BTC rally could spark a broad...

Must Read

10 Best Crypto Audiobooks You Don’t Want to Miss

So, you are getting tired of reading books and you want to switch to audiobooks that talk about cryptocurrencies. Well, today we are going...