BBVA has announced a new step in integrating cryptocurrencies into its banking services after receiving approval from the CNMV for crypto trading. Clients will have access to this function starting in 2025.
Crypto Integration in BBVA
BBVA positions itself as a significant player in the adoption of cryptocurrencies in Europe by offering its clients the ability to buy, sell, and manage Bitcoin and Ethereum through their mobile app.
Gradual Deployment After Successful Tests
Before launching in Spain, BBVA successfully tested services in Switzerland and Turkey. In 2021, the Swiss branch offered private clients custody and crypto trading services. A similar positive experience was replicated in Turkey through Garanti BBVA Kripto.
Impact on the Financial Sector
BBVA's initiative marks a step towards the democratization of blockchain and crypto trading in Europe. This move might encourage other financial institutions to follow suit and accelerate cryptocurrency adoption across the continent.
BBVA's announcement to integrate crypto-assets in Spain highlights the growing influence of cryptocurrencies on traditional financial systems, accelerating their adoption across Europe.
