BBVA to Launch Bitcoin, Ether Services in Spain

BBVA has received approval from Spain’s National Securities Market Commission (CNMV) to offer cryptocurrency custody and trading services in the country. The authorization allows the bank to facilitate transactions for retail clients, initially focusing on Bitcoin and Ether.

This regulatory approval aligns with the European Union’s Markets in Crypto-Assets Regulation (MiCA), which took effect on Dec. 30, 2024. MiCA provides a unified framework for issuing and delivering crypto-related services across the EU.

Following this approval, BBVA plans to expand its crypto services to customers in Spain. This builds on its existing offerings in Switzerland since 2021 and Turkey since 2023, where the bank supports stablecoin USDC, Solana, XRP, Avalanche, and Chiliz. BBVA announced that the service in Spain will initially launch for a limited group of users before rolling out to all retail customers in the coming months.

Clients will be able to buy, sell, and hold bitcoin and Ether through BBVA’s mobile banking app, where they already manage their accounts and investments. Additionally, BBVA will provide its own crypto custody platform, ensuring the secure storage of digital assets without relying on third-party providers.