BBVA Launches Bitcoin, Ethereum Trading in Spain, Following Regulatory Approval

Banco Bilbao Vizcaya Argentaria (BBVA), the second-largest bank in Spain, has announced plans to introduce trading services for Bitcoin (BTC) and Ethereum (ETH). The bank has secured the necessary approvals from the National Securities Market Commission (CNMV), Spain’s securities regulator, to offer these services to its customers. The new service will allow users to buy, sell, and manage their Bitcoin and Ethereum transactions through the bank’s mobile app, providing an integrated and seamless experience across its digital channels.

BBVA’s initiative builds on its previous experience in Switzerland and Turkey, where similar services have been offered since 2021 and 2023, respectively. The bank will utilize its own cryptographic key custody platform to maintain full control over safeguarding its customers’ crypto assets, ensuring enhanced security without relying on third parties. This approach aligns with BBVA’s digitization strategy, aiming to deliver a comprehensive and user-friendly experience for its customers.

Gonzalo Rodríguez, head of BBVA’s retail banking in Spain, emphasized the bank’s commitment to making crypto investing accessible and straightforward. He stated, “We want to make it easier for our customers to invest in crypto assets 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.”

The rollout of the service will be phased, starting with a small group of users and gradually extending to all private customers in Spain over the coming months. This move by BBVA reflects a growing trend among traditional financial institutions to embrace digital assets, particularly in light of regulatory frameworks such as Europe’s Markets in Crypto-Assets (MiCA). MiCA aims to establish a unified regulatory structure for digital assets across the European Union, standardizing rules and eliminating regulatory discrepancies.

BBVA’s involvement with digital assets began in 2021 when it launched crypto services in Switzerland, leveraging the country’s Financial Market Supervisory Authority guidelines. In 2023, BBVA expanded its crypto footprint through Garanti BBVA in Türkiye, offering custody solutions for various cryptocurrencies. With MiCA regulations in place, BBVA is now extending its services to Spain, marking a significant step in the integration of traditional finance and the digital economy. This move positions