BBVA has announced that it will officially open Bitcoin and Ethereum trading and custody services to retail customers on its mobile app.
Spain’s second largest bank, BBVA, has announced its new Bitcoin (BTC) and Ethereum (ETH) moves.
Accordingly, BBVA announced that it will officially open Bitcoin and Ethereum trading and custody services to retail customers on its mobile application.
Customers can now buy, sell and store Bitcoin and Ethereum via the BBVA app.
BBVA added that it will offer more cryptocurrencies and tokenized products other than BTC and ETH in the future.
BBVA President Gonzalo Rodriguez said:
“We want to make it easier for our retail customers in Spain to invest in cryptocurrencies through a simple and easy-to-access digital solution on their mobile phones.
Our goal is to support them as they explore digital assets, backed by the strength and security of a bank like BBVA.”
BBVA’s new service infrastructure, which is evolving with the inclusion of crypto, demonstrates that it is compliant with the European Union’s Markets in Crypto Assets (MiCA) regulations, meaning that BBVA can offer crypto services within the EU-wide legal framework.
BBVA stated in a report published in June that they recommend their wealthy clients allocate 3% to 7% of their portfolios to cryptocurrencies.
While BBVA’s experience in the cryptocurrency space began with private banking services in Switzerland, its Turkish subsidiary Garanti BBVA Crypto was launched in 2023.
At this point, BBVA, Garanti BBVA currently provides services for Bitcoin (BTC), Ethereum (ETH), USDC, Avalanche (AVAX), Solana (SOL), XRP, Arbitrum (ARB) and Chiliz (CHZ) as Garanti BBVA Crypto.
