BBVA Introduces Regulated Crypto Services in Spain for Retail Clients

BBVA has launched cryptocurrency services for retail clients in Spain, allowing customers to purchase Bitcoin and Ethereum through their mobile banking app. This move aligns with MiCA regulations and marks the first major retail bank in Spain to offer regulated crypto services. The service is limited to these two cryptocurrencies and does not support third-party wallet interactions or DeFi platforms.

BBVA has taken a significant step into the cryptocurrency market by introducing crypto trading and custody services for retail clients in Spain. The move aligns with the European Union's Markets in Crypto-Assets Regulation (MiCA) and marks the first major retail bank in Spain to offer regulated crypto services. The service, available through BBVA's mobile banking app, allows customers to purchase Bitcoin (BTC) and Ethereum (ETH) directly.

Gonzalo Rodriguez, BBVA's head of retail banking for Spain, stated, "We want to make it easier for our retail customers in Spain to invest in crypto assets, through a simple and easy-to-access digital solution on their cell phone. Our goal is to support them as they explore digital assets, backed by the strength and security of a bank like BBVA" [1].

The service is designed to be user-friendly, with full integration into BBVA's existing mobile banking app. Customers can buy, sell, and hold BTC and ETH without needing to manage external wallets or use third-party exchanges. BBVA handles the custody directly, ensuring that customers' crypto assets are secured by the bank's own cryptographic key custody platform.

The launch in Spain follows similar services introduced by BBVA in Switzerland and Turkey in 2021 and 2023, respectively. This expansion reflects BBVA's strategic approach to digital assets, aiming to offer both new crypto assets and traditional assets in tokenized form [2].

BBVA's compliance with MiCA regulations is a key aspect of the service. The bank has completed notification formalities with the Spanish Securities and Exchange Commission (CNMV) and was approved to launch its crypto offerings in March 2025. The service is designed to be self-directed, with no investment advice provided, and access is exclusively through the app.

While the service offers a secure and regulated environment for retail investors, it does not eliminate the inherent risks associated with cryptocurrencies. Users should approach the service with a clear understanding of the asset class and its limitations.

References:
[1] https://www.americanbanker.com/news/bbva-launches-crypto-trading-for-spain-retail-customers
[2] https://cointelegraph.com/explained/bbva-expands-crypto-access-in-spain-heres-what-changed?utm_campaign=rss_partner_inbound&utm_medium=rss&utm_source=rss_feed