Spanish financial giant Banco Bilbao Vizcaya Argentaria is preparing to offer crypto trading to customers on its platform in Spain.
ADVERTISEMENTBBVA’s customers in Spain will soon be able to buy, sell, and manage bitcoin and ether transactions through the bank’s app, after the lender received the green light from the Spanish Securities and Exchange Commission (CNMV).
According to the European Markets in Cryptoassets Regulation (MiCA), banks must secure this approval if they want to offer crypto services.
“Customers in Spain will be able to manage their cryptoassets trading orders directly within the app, alongside their accounts, investments, and regular banking activities,” the bank said in a statement.
“Initially, the service will be rolled out to a small group of users and gradually extended to all private customers in Spain over the coming months.”
Along with Germany’s Deutsche Bank and France’s Société Générale, the Spanish bank is one of the front-runners in launching crypto services in Europe.
Traditional financial institutions are increasingly embracing digital currencies, a trend supported by a growing number of regulatory frameworks in the US and Europe.
BBVA has already been offering similar options in Switzerland and Türkiye, since 2021 and 2023 respectively.
In these countries, regulatory frameworks were already in place before MiCA, the EU’s crypto regulation, fully came into effect in December 2024.
The Spanish bank emphasised in its statement that the new service doesn’t rely on third parties to guarantee the security of customers’ assets.
“BBVA will utilise its own cryptographic key custody platform, allowing the bank to maintain full control over safeguarding its customers’ crypto assets without relying on third parties,” it said.
BBVA added that the new service will be available for those who ask for it and clarified that the bank is not going to offer advisory services.
