BBVA, the second largest bank in Spain, Officially Bitcoin trade and nursery services for all retail customers in the country. The offer is now displayed in the BBVA Mobile app, allowing legal age customers to buy, sell and contract Bitcoin and Crypto.
This announcement comes after BBVA completed the required organizational notification with the National Securities Market Committee (CNMV) under the European Union markets in encrypted assets (MICA). The bank confirmed that it will not provide investment advice on these assets, and access will be only available in the client’s initiative through the application.
“We want to make it easy for retail clients in Spain to invest in encrypted bells, with a simple digital solution and easy access to their cell phone,” said Gonzalo Rodriguez, head of the retail department in Spain. “Our goal is to support them while exploring digital assets, supported by the strength and security of the bank like BBVA.”
BBVA Bitcoin and Crypto Nursery is managed within the company using its main encryption infrastructure, eliminating dependence on third parties and allowing the bank to maintain full control of the protection of customer assets.
“After this launch in Spain, BBVA added another country to the digital asset service, which was first provided in Switzerland in 2021, followed by Turkey in 2023,” added Francisco Maruto, head of digital assets at BBVA.
The retail group relies on BBVA initiatives for bitcoin and encryption, including the launch of the 2021 encryption services for private sector customers in Switzerland and 2023 for the first time for the digital assets platform via Garanti BBVA in Türkiye.
This expansion also follows recent guidelines of the BBVA private banking arm. In June, the bank officially started advice to high -value customers to allocate 3 % to 7 % of their portfolios to Bitcoin. “With private sector customers, since September of last year, we started advice on Bitcoin,” said Philip Mayer, President of Digital & Blockchain Solutions at BBVA Switzerland. He added, “By 3 %, you do not bear a great risk,” noting that even small allocations can improve the performance of the wallet. This launch represents great support for digital assets by the leading European Bank, which enhances the increasing role of Bitcoin in the prevailing financing.
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