BBVA has become the first traditional bank in Spain to offer cryptocurrency trading and custody services for retail customers. The launch occurred on July 4, 2025, in line with the new MiCA regulations.
Overview of BBVA's Crypto Service
BBVA offers services for buying, selling, and storing Bitcoin and Ether directly through the bank's mobile application. This service simplifies cryptocurrency access for retail investors without requiring third-party exchanges. Key features of the service include: - Support for BTC and ETH trading. - Asset custody managed by BBVA. - Full integration with existing BBVA accounts for easy fund movement. - Mobile-first interface. - No investment advice provided, making this a self-directed product.
Who Can Use BBVA's Services?
As of its launch, BBVA's services are available to all Spanish residents aged 18 and older who hold a BBVA bank account. The process for accessing the service includes several steps: - Open the BBVA mobile banking app. - Navigate to the crypto section in the investment or financial services. - Verify identity through standard KYC procedures. - Fund the account with euros from your BBVA account. - Buy or sell BTC and ETH within the app.
BBVA's Regulatory Foundation and MiCA
The launch of BBVA's services occurs at a time of significant regulatory clarity in the EU. Under the Markets in Crypto-Assets Regulation (MiCA), which came into effect in 2024, financial institutions can now offer regulated crypto products throughout the EU. Spain's financial regulator, CNMV, approved BBVA's compliance with MiCA in March 2025, allowing the bank to legally offer trading and custody services.
BBVA's new crypto service reflects the bank's commitment to being a leading player in the crypto finance market, providing simplicity and security for retail users, positioning Spain at the forefront of crypto service implementation in Europe.
