BBVA, Spain's second-largest bank, has expanded its services by introducing trading and custody options for Bitcoin and Ethereum for retail clients. This step reflects the bank's commitment to enhancing its presence in the crypto asset sector.
BBVA Services for Retail Clients
BBVA has launched a trading and custody service for cryptocurrencies, allowing customers to buy, sell and hold Bitcoin and Ethereum directly through the mobile app. Gonzalo Rodríguez, Head of Retail Banking for Spain, stated: "We want to make it easier for our retail customers in Spain to invest in crypto-assets through a simple and easy-to-access digital solution on their cell phone."
Expansion of Offerings for Institutional Clients
Earlier this year, BBVA received approval from the National Securities Market Commission to launch trading and custody services for Bitcoin and Ethereum for institutional clients. This has been made possible by the implementation of the Markets in Crypto-Assets Regulation in EU countries, which clearly defines requirements for crypto asset service providers.
Price Increases for Bitcoin and Ethereum
The demand for Bitcoin and Ethereum among institutional and retail clients has significantly increased. Analysts expect Bitcoin's price to hit $135,000, while Ethereum is projected to surpass $3,000 this year. In the last 24 hours, Bitcoin's price was at $108,230, and Ethereum traded at $2,561.
The launch of crypto trading and custody services for retail customers underscores BBVA's strategy to expand its digital presence and enhance its offerings in crypto assets, aligning with the growing interest from investors.
