BBVA Launches Bitcoin Trading For All Retail Customers In Spain

Bitcoin Magazine

BBVA Launches Bitcoin Trading For All Retail Customers In Spain

BBVA, the second-largest bank in Spain, has officially launched Bitcoin trading and custody services for all retail customers in the country. The offering is now live within the BBVA mobile app, allowing customers of legal age to buy, sell, and hold Bitcoin and crypto. 

This announcement comes after BBVA completed the required regulatory notification with the National Securities Market Commission (CNMV) under the EU’s Markets in Crypto-Assets (MiCA) framework. The bank emphasized that it will not offer investment advice on these assets, and access will only be available at the customer’s initiative through the app.

“We want to make it easier for our retail customers in Spain to invest in crypto-assets, through a simple and easy-to-access digital solution on their cell phone,” said Gonzalo Rodríguez, Head of Retail Banking in Spain. “Our goal is to support them as they explore digital assets, backed by the strength and security of a bank like BBVA.”

BBVA’s Bitcoin and crypto custody is managed in-house using its own secure cryptographic key infrastructure, eliminating reliance on third parties and allowing the bank to maintain full control over safeguarding customer assets.

Francisco Maroto, Head of Digital Assets at BBVA, added, “Following this launch in Spain, BBVA has added another country to its Digital Assets service, which was first introduced in Switzerland in 2021, followed by Turkey in 2023. Mirroring BBVA’s leadership in digitization and innovation, we are continuing to grow our digital assets business.”

The retail rollout builds on BBVA’s earlier Bitcoin and crypto initiatives, including its 2021 launch of crypto services for private clients in Switzerland and the 2023 debut of a digital asset platform through Garanti BBVA in Turkey.

This expansion also follows recent guidance from BBVA’s private banking arm. In June, the bank began formally advising high-net-worth clients to allocate 3% to 7% of their portfolios to Bitcoin. “With private customers, since September last year, we started advising on Bitcoin,” said Philippe Meyer, Head of Digital & Blockchain Solutions at BBVA Switzerland. “At 3%, you are not taking a huge risk,” he added, noting that even small allocations can improve portfolio performance.This launch represents a major endorsement of digital assets by a leading European bank, reinforcing the growing role of Bitcoin in mainstream finance.

This post BBVA Launches Bitcoin Trading For All Retail Customers In Spain first appeared on Bitcoin Magazine and is written by Jenna Montgomery.