BBVA launched its crypto trading and custody service for retail customers in Spain on July 4, 2025, making it the first traditional bank in the country to offer such a service under the EU’s new MiCA regulations.

BBVA’s crypto offering provides buy, sell and custody services for Bitcoin (BTC) and Ether (ETH), integrated directly into the bank’s mobile banking app. The service is designed to bring cryptocurrency access to retail investors without requiring them to use third-party exchanges or separate custodians.

This is not a separate app or partnership-based service. It is a native offering from one of Europe’s major banks aimed at making crypto feel more familiar, secure and compliant.

As of its launch in Spain, BBVA’s crypto services are available to all Spanish residents aged 18 and older who hold a BBVA bank account. 

This represents a significant expansion from BBVA’s earlier crypto pilot projects in Switzerland and Turkey, which were limited to private banking or foreign subsidiaries.

Accessing the service is straightforward. Here’s are the general steps involved:

For risk-averse users or newcomers to digital assets, this lowers the barrier to entry as there is no need to download a separate app, manage external wallets or move funds through an exchange. 

BBVA’s retail crypto launch comes at a pivotal time for regulatory clarity in the EU. Under the Markets in Crypto-Assets Regulation (MiCA), which took effect in 2024, financial institutions can now offer regulated crypto products within a harmonized framework across all EU member states.

Spanish financial regulator, the CNMV (Comisión Nacional del Mercado de Valores), approved BBVA’s compliance with MiCA in March 2025. That gives the bank legal authority to offer custody, trading and investment services for specific crypto assets.

This regulatory backing sets Spain ahead of several neighboring EU countries in executing MiCA's harmonized rules:

Spain not only implemented MiCA swiftly but also empowered leading banks like BBVA to act decisively. CNMV’s readiness to authorize such services signals Spain’s ambition to become a crypto-finance hub within the EU, encouraging innovation while ensuring investor protection. This regulatory clarity has made Spain an attractive launchpad for compliant crypto services, offering a competitive edge in a rapidly evolving European market.

BBVA’s retail crypto expansion did not happen overnight. Its roadmap reflects a cautious and deliberate strategy.

With MiCA enabling the passporting of financial services across EU member states, BBVA could use its July 2025 launch in Spain as a regulatory foothold for future expansion into markets like France, Italy, and Germany, once local licensing procedures are completed.

BBVA’s crypto offerings are focused on simplifying access while maintaining high standards for security and regulatory compliance.

This structure is ideal for users who value regulatory oversight and prefer to keep their digital assets within a familiar banking environment.

While BBVA’s launch of crypto services is a significant milestone for traditional finance, the offering remains intentionally narrow in scope. The bank has chosen to focus on simplicity, security and regulatory alignment, rather than competing with feature-rich exchanges or DeFi platforms.

This decision shapes the user experience and defines the target audience, but it also limits the flexibility and functionality more advanced users may expect.

Here is what BBVA does not offer:

These limitations reflect BBVA’s cautious, compliance-first approach to crypto integration.

While BBVA’s entry into crypto services provides a more secure and regulated environment for retail investors, it does not eliminate the inherent risks associated with digital assets. 

Users should approach this service as a convenient on-ramp into crypto, not as a substitute for fully understanding the asset class or its limitations.

Deciding whether to use BBVA’s crypto service instead of a traditional crypto exchange depends largely on your investment goals, technical comfort and risk tolerance. 

BBVA offers a highly regulated, bank-integrated experience that prioritizes ease of use and security over breadth of features.

You may find this platform ideal if you’re:

However, it may be less suitable for:

• Traders looking for advanced tools, yield products or access to decentralized finance protocols.

Always remember that regulation improves safety, but it doesn’t eliminate financial risk or guarantee protection against losses.