- BBVA currently offers USDC services in Switzerland, along with other crypto services in Turkey.
- The bank will retain full control over client holdings.
- BBVA plans to introduce Solana, Ripple, Polkadot, and other cryptos to the Spanish market.
Spain’s second-largest bank, Banco Bilbao Vizcaya Argentaria (BBVA), will begin offering Bitcoin (BTC) and Ethereum (ETH) trading services after securing approval from the country’s securities regulator, the Comisión Nacional del Mercado de Valores (CNMV).
Banking on Bitcoin
BBVA’s new crypto trading service will allow customers to buy, sell, and manage BTC and ETH directly through the bank’s app. The initial rollout will be limited to a select group of users before expanding nationwide.
Additionally, BBVA will use an in-house cryptographic key custody platform to retain full control over client holdings.
The bank has already been offering crypto services outside Spain for years. In Switzerland, BBVA customers have had access to BTC and ETH trading since 2018. In September 2024, the bank introduced USD Coin (USDC) services for private and institutional clients.
In January 2025, BBVA expanded crypto trading to Turkey via its subsidiary, Garanti BBVA, supporting BTC, Solana (SOL), Ripple (XRP), Avalanche (AVAX), Polkadot (DOT), and more.
The bank now aims to roll out these offerings in Spain.
MiCA Influence
After coming into full effect at the end of 2024, the European Union’s (EU’s) sweeping Markets in Crypto Asset (MiCA) regulations have spurred swathes of legacy finance entities to apply for the appropriate license and begin rolling out crypto services.
Furthermore, whilst it does pose some challenges to crypto exchanges, including the delisting of the Tether (USDT) stablecoin, they appear to be moving in a compliant direction with many crypto firms lining up for MiCA licenses. That, or risk being shut out of the European market.
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