BBVA brings Bitcoin and Ethereum trading service for Spanish customers

The Spanish Bank BBVA is launching a crypto trading service, allowing Spanish customers to buy, sell and manage Bitcoin and Ethereum via its application.

The second largest Spanish financial institution by volume of assets, BBVA, should deploy a new crypto trading service Spainallowing customers to buy and manage the two largest cryptocurrencies by market capitalization, Bitcoin (BTC) and Ethereum (Ethn).

In a March 10 press releaseThe banking giant said that the service will first be available for a small group of users before expanding to all private customers in the coming months. The launch comes after BBVA finished the regulatory formalities under markets in the regulation of cryptocurrency – also known as Mica – with the financial regulator of Spain.

Spanish customers will be able to manage their cryptographic transactions as well as their regular banking activities, according to banks. BBVA will use its own guard platform for cryptographic keys without counting on third-party suppliers.

“We want our customers to invest more easily in cryptocurrency with a simple and accessible offer available directly from their mobile phones, in a completely digital way. Our goal is to guide them when they explore this new digital asset segment, supported by solvency and safety insurance provided by a bank like BBVA. »»

Gonzalo Rodríguez, responsible for retail banking services in Spain

The bank already offers similar services in Switzerland and Türkiye, where it introduced cryptographic trade in 2021 and 2023, respectively. In Türkiye, guaranteed BBVA Provides childcare services For several cryptocurrencies. In Switzerland, its local unit launched the Bitcoin trading in 2021, adding later the care of the part of USD of Ethereum and the Circle (USDC).