Spanish bank BBVA is expanding its offerings by allowing its customers in Europe to trade cryptocurrencies directly through its mobile app.
New Crypto Trading Opportunities from BBVA
BBVA, the second-largest bank in Spain, is implementing crypto trading directly in its mobile app. Customers will be able to trade Bitcoin (BTC) and Ethereum (ETH) and use custodial services. The bank aims to establish institutional infrastructure and compete with other custodial services.
In-House Custody and Settlement Services
The bank will manage all trades and custody in-house, without relying on external platforms. BBVA fully complies with local regulations for offering crypto assets. The rollout of these new services in Europe coincides with a rise in stablecoin usage and growing demand for crypto investments.
BBVA's Expansion into Digital Assets Market
BBVA has already ventured into crypto trading, albeit limited to accredited investors. The bank first offered crypto services in Switzerland in 2021, later branching into Turkey. According to bank representatives, this expansion will help reach a larger audience in the European Union, where crypto ownership has exceeded 30%.
BBVA's expansion into the cryptocurrency sector reflects the growing interest of banks in digital assets and their readiness to provide their own infrastructure for clients.