Spain's second largest bank, BBVA, has announced the launch of new services allowing retail customers to trade and store Bitcoin and Ethereum. This expansion of services highlights the bank's growing interest in cryptocurrencies.
New BBVA Services
BBVA announced the official launch of Bitcoin (BTC) and Ethereum (ETH) trading through its mobile application. Users can now buy, sell, and store these cryptocurrencies directly within the BBVA app. The bank also reported plans to add more cryptocurrencies and tokenized products in the future.
Statement from BBVA President
BBVA President Gonzalo Rodriguez stated: ‘We want to make it easier for our retail customers in Spain to invest in cryptocurrencies through a simple and easy-to-access digital solution on their mobile phones. Our goal is to support them as they explore digital assets, backed by the strength and security of a bank like BBVA.’
Compliance with EU Regulations
The infrastructure for BBVA’s new services complies with the European Union's Markets in Crypto Assets (MiCA) regulations, allowing the bank to offer crypto services within the EU-wide legal framework. In a report published in June, BBVA recommended its wealthy clients allocate 3% to 7% of their portfolios to cryptocurrencies.
With the launch of new cryptocurrency services, BBVA emphasizes its commitment to expanding financial opportunities for clients while complying with modern regulatory requirements in Europe.
