- BBVA, Spain‘s second-largest bank, will offer Bitcoin and Ethereum trading through its app after meeting EU regulatory requirements.
- The service will initially be available only to private banking clients in Spain before broader rollout.
- BBVA’s move follows similar offerings in Switzerland and Turkey, reflecting a growing trend of traditional banks entering the cryptocurrency space.
Spain’s banking giant BBVA is stepping into the cryptocurrency arena, announcing plans to enable customers to buy, sell, and manage Bitcoin and Ethereum directly through its mobile application. The bank will first test the service with a limited user group before expanding to all private banking customers across Spain in the coming months.
The launch comes after BBVA successfully met all requirements under the European Union’s Markets in Crypto-Assets Regulation (MiCA) and completed necessary registration procedures with Spain’s Securities and Exchange Commission (CNMV).
This cryptocurrency trading feature will initially target BBVA’s wealthier clientele, as it’s being rolled out exclusively to private banking customers who meet the bank’s wealth requirements. The bank has not specified when the service might become available to its broader customer base.
The Spanish rollout isn’t BBVA’s first cryptocurrency venture. The bank has been offering similar services to its private banking customers in Switzerland since 2021 and launched cryptocurrency services in Turkey through its Garanti BBVA Kripto subsidiary in January 2025.
Banks and crypto
Traditional financial institutions have generally maintained cautious approaches to cryptocurrency, with BBVA ranking among Europe‘s largest banks by assets. The retail-focused crypto trading services remain relatively uncommon among mainstream banks, with digital bank Revolut being a notable exception that has offered such services since 2017.
While some institutions like Switzerland’s Dukascopy Bank offer hybrid services combining traditional banking with cryptocurrency trading, others like Switzerland’s AMINA have positioned themselves specifically as “crypto banks.”
The implementation of MiCA has provided European banks with clearer regulatory guidelines, encouraging more established financial institutions to enter the space. Last month, multinational bank Standard Chartered launched a Luxembourg-based entity offering cryptocurrency and digital asset custody services throughout the European Union.
Beyond offering trading services, some major European banks are directly investing in Bitcoin. In January, Intesa Sanpaolo, Italy‘s largest bank, purchased 11 BTC valued at €1 million ($1 million), becoming the first Italian banking institution to make a direct cryptocurrency investment for its corporate treasury.
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