BBVA, Spain's second largest bank, has announced new Bitcoin (BTC) and Ethereum (ETH) moves.
Therefore, BBVA has announced that it will officially open Bitcoin and Ethereum trading and storage services to retail customers through its mobile application.
Customers can now purchase, sell and store Bitcoin and Ethereum via the BBVA app.
BBVA added that it will offer more cryptocurrencies and tokenized products other than BTC and ETH in the future.
BBVA President Gonzalo Rodriguez said:
“We want to make it easier for Spanish retail customers to invest in cryptocurrency through simple and easy-to-access digital solutions on mobile phones.
Our goal is to support them in exploring digital assets backed by the strength and security of banks like BBVA. ”
The new BBVA service infrastructure, which is evolving with the inclusion of Crypto, demonstrates compliance with the European Union market in Crypto Assets (MICA) regulations.
In a report published in June, the BBVA said it would recommend that wealthy clients allocate between 3% and 7% of their portfolio to cryptocurrencies.
BBVA's experience in the cryptocurrency space began with a Swiss private banking service, while Turkish subsidiary Garanti BBVA Crypto was launched in 2023.
At this point, BBVA, Garanti BBVA currently serves Bitcoin (BTC), Ethereum (ETH), USDC, Avalanche (Avax), Solana (Sol), XRP, Arbitrum (ARB), Chiliz (CHZ) as Galanti BBVA Crypto.
*This is not investment advice.
