BBVA has received approval from the Spanish Securities and Exchange Commission to offer bitcoin and ether trading and custody services, allowing the bank to begin offering these services to retail customers.
Obtaining License Approvals
BBVA has received approval from the Spanish Securities and Exchange Commission (CNMV) to trade and custody bitcoin and ether in Spain. This step allows the bank to begin offering crypto services to retail customers, starting with a small group, then expanding to all private clients in the coming months.
New Service and Its Features
The new service aligns with the Markets in Cryptoassets Regulation (MiCA), which governs cryptoasset services within the European Union. This integration allows customers to seamlessly buy, sell, and manage bitcoin and ether through BBVA's mobile app, combining crypto trading with standard banking activities.
Global Expansion of Crypto Services
In 2021, BBVA launched bitcoin custody and trading services for private banking clients in Switzerland. Recently, the bank added Circle's USDC stablecoin for high-profile clients, allowing the management of USDC alongside traditional investments on a single platform.
BBVA continues to expand its use of blockchain technology in financial services, with a strong focus on security and regulatory compliance.
