Spanish financial giant BBVA has received approval from the Spanish Securities and Exchange Commission (CNMV) to launch a crypto trading service, allowing its customers in Spain to trade Bitcoin and Ether directly through the bank’s app. In compliance with the European Markets in Cryptoassets Regulation (MiCA), BBVA’s new service integrates crypto trading with traditional banking functions, enabling users to manage their crypto assets alongside their regular accounts and investments.
Initially, the service will be available to a small group of users, with plans to gradually extend access to all private customers in Spain over the coming months. Unlike some other providers, BBVA will use its own cryptographic key custody platform to ensure full control over the security of customers' crypto assets, eliminating reliance on third parties.
BBVA is joining the ranks of other major European banks, including Deutsche Bank and Société Générale, in embracing digital currencies as traditional financial institutions adapt to the evolving regulatory landscape. The bank has already rolled out similar services in Switzerland and Türkiye since 2021 and 2023, respectively.
