Spain’s second-largest bank, BBVA, is getting into the cryptocurrency game. They’ve received the green light from Spain’s securities regulator to let customers buy, sell, and manage Bitcoin (BTC) and Ethereum (ETH).
Crypto Trading on the Banking App
This new service will be rolled out gradually through the bank’s existing app. Initially, a small group of users will get access, with a wider rollout to all Spanish customers planned in the coming months. BBVA says this integrates crypto trading seamlessly into their existing banking services.
Security is Key
BBVA emphasizes security, stating they’ll use their own system to safeguard customer crypto assets, instead of relying on third-party companies. This gives them complete control over protecting customer funds.
BBVA’s Crypto Strategy
According to Gonzalo Rodríguez, head of BBVA’s retail banking in Spain, the goal is to make crypto investing easier and more accessible for their customers, directly through their phones. They aim to provide a secure and user-friendly experience, leveraging BBVA’s reputation for reliability. This follows similar services already offered by BBVA in Switzerland and Turkey.
