BBVA Launches Bitcoin, Ethereum Services for Spanish Users

BBVA, a leading Spanish bank, has announced the launch of Bitcoin and Ethereum trading services for retail customers in Spain, available via the bank’s mobile app.

This development represents a significant expansion of BBVA’s crypto services, aligning with European MiCA regulations for enhanced customer access to digital assets.

BBVA Extends Crypto Services to Spain Under MiCA

BBVA has extended its cryptocurrency trading and custody services to retail customers in Spain, allowing users to trade Bitcoin and Ethereum through their mobile app. Service complies with MiCA regulations and marks BBVA’s third country expansion after initiatives in Switzerland and Turkey.

BBVA’s initiative introduces a new frontier for retail investors in Spain to access Bitcoin and Ethereum. The integration of crypto trading functions into a well-established banking application may reshape digital asset accessibility. It is likely to influence other banks to consider similar services.

Market reactions remain measured, with no significant remarks from prominent crypto personalities as of July 7. BBVA executives, however, underscore their commitment to a seamless connection between traditional banking and digital assets under European regulatory standards.

Bitcoin Surges 40.90% as BBVA Paves Regulatory Path

Did you know? In 2021, BBVA launched its first crypto services in Switzerland, showcasing a forward-focused approach to digital banking, now echoed in Spain.

Bitcoin, at $108,281.38, holds market dominance at 64.47%, with a market cap of $2.15 trillion according to CoinMarketCap. Over the past 90 days, Bitcoin’s price has surged by 40.90%, reflecting a strong market presence despite short-term fluctuations.

Insights from Coincu’s research team suggest that BBVA’s move could prompt further growth in European retail crypto markets. By offering these services, BBVA not only helps to mainstream digital asset adoption but also sets a precedent for regulatory compliance in the financial sector.