In a recent statement, Banco Bilbao Vizcaya Argentaria (BBVA) announced that it has secured the required approvals from the National Securities Market Commission (CNMV)
Spain's second-largest financial institution is set to introduce trading services for Bitcoin (BTC) and Ethereum (ETH).
In a recent statement, Banco Bilbao Vizcaya Argentaria (BBVA) announced that it has secured the necessary approvals from the National Securities Market Commission (CNMV), the country's securities regulator, to provide its clients with trading services for these leading digital currencies based on market capitalization.
The services are expected to launch in stages over the next few months.
According to BBVA,
"The bank is preparing to launch a new service that will enable all of its customers to buy, sell, and manage transactions in Bitcoin and Ethereum in a simple and secure manner through the app. Initially, this service will be available to a limited group of users, and it will be gradually extended to all private customers in Spain over the coming months. This initiative builds upon the experience of the bank in Switzerland, where it began offering similar services in 2021, and in Turkey, where it launched such services in 2023."
The bank's customers in Spain will be able to trade their cryptocurrencies via the same app they currently use for traditional banking tasks.
"This strategy allows the bank to offer a coherent and integrated experience across its digital platforms and contributes to its ongoing digitization process. A relevant factor is that BBVA will launch its own cryptographic key custody platform, ensuring that the bank maintains complete control over the protection of its customers' crypto assets without relying on third parties."
"Our goal is to make it easier for our customers to invest in crypto assets through a simple and accessible service that they can use directly from their mobile devices in a fully digital format. We want to guide them in this new world of digital assets with the financial solidity and security guarantees that a bank like BBVA can offer," said Gonzalo Rodríguez, head of retail banking in Spain.See Also: Top Bank in Spain Is Launching Bitcoin and Ethereum Trading Service
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