Spain’s second-largest financial institution is set to introduce trading services for Bitcoin (BTC) and Ethereum (ETH).
In a recent statement, Banco Bilbao Vizcaya Argentaria (BBVA) announced that it has secured the required approvals from the National Securities Market Commission (CNMV), the country’s securities regulator, to provide its clients with trading services for these leading digital currencies based on market capitalization.
The services will be launched in stages over the next few months.
According to BBVA,
“The bank is preparing to unveil a new service that will be accessible to all customers, allowing them to securely buy, sell, and manage transactions involving Bitcoin and Ethereum through the app. Initially, this service will be available to a select group of users and will gradually be broadened to all private customers in Spain in the upcoming months. This initiative leverages the bank’s experience in Switzerland and Turkey, where it has been providing similar services since 2021 and 2023, respectively.”
BBVA also stated that customers in Spain will be able to trade their cryptocurrencies via the same app they currently use for traditional banking tasks.
“This strategy allows the bank to offer a cohesive and integrated experience across its digital platforms while supporting its digitization process. A significant aspect of the new service is that BBVA will implement its own cryptographic key custody platform, ensuring the bank maintains complete control over the protection of its customers’ crypto assets without depending on external parties.”
Gonzalo Rodríguez, head of BBVA’s retail banking in Spain, remarked,
“Our aim is to simplify the process for our customers to invest in crypto assets through a straightforward, accessible service available directly from their mobile devices in a fully digital format. We aspire to guide them as they navigate this new realm of digital assets, bolstered by the financial reliability and security assurances that a bank like BBVA can provide.”
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Disclaimer: The views expressed in The Daily Hodl are not to be considered investment advice. Investors should undertake their due diligence before making high-risk investments in Bitcoin, cryptocurrency, or digital assets. Be aware that your transfers and trades are at your own risk, and any losses are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it serve as an investment advisory. Please note that The Daily Hodl participates in affiliate marketing.
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