BBVA Launches Bitcoin and Ether Trading & Custody Services in Spain: A New Era for Crypto Investment
BBVA is set to revolutionize the banking experience for its customers by launching a new service that allows users to buy, sell, and manage bitcoin and ether transactions securely through its mobile app. This innovative feature is designed to enhance the way customers interact with cryptocurrency while ensuring safety and convenience.
Upcoming Cryptocurrency Service in Spain
The new cryptocurrency service will initially be available to a select group of users before a wider rollout to all private customers in Spain over the next few months. This initiative is a continuation of BBVA’s successful implementation of similar services in Switzerland and Turkey, where such offerings have been operational since 2021 and 2023, respectively.
Features of the New Service
Customers in Spain will have the ability to:
- Manage their cryptocurrency trading orders directly within the app.
- Access their accounts, investments, and standard banking activities in one place.
- Utilize BBVA’s own cryptographic key custody platform for secure storage of their cryptoassets.
Commitment to Security and Control
BBVA emphasizes that the service will operate without reliance on third-party custodians. This ensures that the bank maintains full control over the safeguarding of its customers’ cryptoassets. However, it is important to note that the bank will not provide advisory services, allowing customers to make investment decisions independently.
Customer-Centric Approach
Gonzalo Rodríguez, BBVA’s head of retail banking in Spain, stated: “We want to make it easier for our customers to invest in cryptoassets with a simple, accessible offering available directly from their mobile phones, in a fully digital manner. Our goal is to guide them as they explore this new segment of digital assets, backed by the solvency and security assurances provided by a bank like BBVA.”
This new service represents BBVA’s commitment to innovation in the banking sector, aiming to provide customers with the tools they need to navigate the evolving landscape of digital assets confidently.
