BBVA Shares Rise 3% on Crypto Trading Approval in Spain

BBVA, a prominent financial institution, has received regulatory approval from the Spanish Securities and Exchange Commission to offer Bitcoin and Ether trading services. This approval allows BBVA to provide custody and execution services for retail cryptoassets, marking a significant step in the bank's expansion into the cryptocurrency market.

BBVA announced that it would be entering the cryptocurrency business in Spain on March 10th. The bank will enable its customers to trade in Bitcoin and Ether through its mobile platform. To store cryptographic keys, the bank has built its custody system and, with it, direct control over customer holdings without a third party. At first, the service will be available to a select group of users. Over the next few months, BBVA plans to extend access to all private banking customers across the country.

BBVA first entered the crypto space in Switzerland, launching Bitcoin trading and custody services in 2021 for private banking clients. The Swiss branch later expanded its offerings to include Ether and the USDC stablecoin. In January 2025, BBVA’s Turkish subsidiary, Garanti BBVA Kripto, introduced crypto trading services for the public. With Spain now included, the bank is steadily expanding its digital asset services across Europe.

This approval comes as European banks and crypto firms scramble to meet Markets in Crypto-Assets Regulation (MiCA) requirements. MiCA became fully effective immediately after the end of 2024 and companies have until July 2026 to comply. Since MiCA’s implementation, several banks and exchanges have moved to secure regulatory approval. This regulatory backing is expected to boost the adoption of cryptocurrencies in Spain and across the EU, as it ensures that crypto trading services are conducted in a secure and transparent manner.

BBVA’s move into Spain’s cryptocurrency market signals a broader effort by traditional banks to offer digital asset services. A BBVA spokesperson said, “We are providing our customers with secure access to digital assets within a regulated framework.” By integrating crypto trading into its banking app, BBVA gives customers a familiar platform to manage digital and traditional assets in one place. The bank’s decision to handle custody internally ensures added security for users.

BBVA's entry into the crypto market is expected to have a positive impact on the adoption of cryptocurrencies in Spain. By offering Bitcoin and Ether trading services, BBVA is providing its clients with a