BBVA to Launch Bitcoin and Ethereum Trading Services in Spain

Banco Bilbao Vizcaya Argentaria (BBVA), the second-biggest bank in Spain, is getting ready to provide its clients trading services for Bitcoin (BTC) and Ethereum (ETH). In the upcoming months, the bank would gradually introduce the new services after receiving approval from the National Securities Market Commission (CNMV).

With the introduction of comparable services in Switzerland in 2021 and Turkey in 2023, BBVA has expertise providing crypto services. Before being made available to all private clients, the Spanish rollout will first be restricted to a small number of individuals.

Seamless Integration with BBVA’s Banking App

BBVA aims to simplify cryptocurrency trading by integrating the service directly into its existing mobile app. Customers will be able to buy, sell, and manage Bitcoin and Ethereum transactions within the same platform they use for traditional banking.

Unlike other crypto service providers, BBVA will manage its own cryptographic key custody, ensuring full control over asset security without third-party reliance. This approach enhances security and trust, aligning with the bank’s broader digitalization strategy.

Gonzalo Rodríguez, head of BBVA’s retail banking in Spain, emphasized the bank’s commitment to making crypto investments more accessible.

“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.”

With this move, BBVA strengthens its position in the evolving crypto space, offering regulated and secure access to digital assets for Spanish customers.