- The BBVA now enables Spanish private customers to act and store Bitcoin and Ethereum directly in the app without third parties being involved.
- In the future, you will also want to offer stablecoins and tokenized assets, adapted to the EU’s Mica regulations for crypto and custody services.
The BBVA (Banco Bilbao Vizcaya Argentaria), the second largest Spanish bank, has introduced newly integrated Bitcoin and Ethereum trade and custody services for private customers via its mobile app. The service is completely operated by the BBVA without the participation of third -party providers.
The offer enables adult Spanish customers, Bitcoin and Ethereum to buy, sell and maintain directly via the mobile banking platform of the BBVA. The bank has embedded crypto functionality in its existing digital interface and thus enables seamless interaction without the need for separate platforms or deposit solutions.
BBVA, the second largest bank in Spain, announced that it will officially open Bitcoin and Ethereum trading and custody services to retail customers in its mobile app. Users can buy, sell and hold crypto assets independently in the BBVA App. The service is self-built and there is…
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The BBVA confirmed that the introduction is followed by an official registration that was submitted to the Spanish Securities Market Commission (CNMV) at the beginning of the year. The offer should correspond to the EU regulation “Markets in Crypto-Assets” (Mica), which prescribes rules for crypto trading, custody and consumer protection in the member states.
The use of its own custody system enables the bank to directly manage the custody of assets and to meet the regulatory conditions in terms of internal risk management and transparency.
Extension from private banking to access for private customers
Before the start in Spain, BBVA’s crypto services were limited to private banking customers in Switzerland, where the bank introduced Bitcoin trading in 2021. Later, in 2023, she expanded to Turkey through her subsidiary Garrügti BBVA.
The fact that wealthy private individuals become crypto is a market trend. Private investors show an increasing interest in keeping cryptocurrencies in a regulated financial environment, especially when market volatility decreases and the political framework is mature. As an EU member, Spain offers a regulated environment as part of the mica, in which such offers can now be scaled with legal clarity.
Gonzalo Rodríguez, who heads private customer business in Spain, pointed out that the initiative was driven by the demand for easier access to digital assets via trustworthy channels. He pointed out that the bank’s goal is to offer an accessible solution for customers who strive for an engagement in crypto assets without refraining from regulatory safety precautions.
Future plans include additional assets and tokenization
The BBVA has Plans to expand their offer beyond Bitcoin and Ethereumoutlined. The bank checks the inclusion of other digital assets, including stable coins and tokenized financial instruments such as bonds and investment funds. This not only reflects interest in facilitating crypto investments, but also in the promotion of tokenized versions of traditional assets within their infrastructure.
According to Francisco Maroto, head of the Department of Digital Wealth at the BBVA, the bank is developing a more comprehensive strategy for digital assets, which will ultimately integrate further investment and transaction solutions. He confirmed that the BBVA will further expand its offer with the technological developments and regulatory changes in the EU.
The custody system developed by the bank itself remains a central part of this strategy, since it enables direct monitoring of asset custody and minimizes the dependency on third parties. This decision is expected to support future growth in assets and meet the requirements of Mica for institutional custody and operational control.
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