Coin WorldMonday, Jul 7, 2025 7:49 am ET

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BBVA, a multinational Spanish bank, has launched crypto trading and custodian services for its retail customers in Spain. This new service allows customers to buy, sell, and store Bitcoin and Ether directly through the BBVA app, marking a significant step in the bank's strategy to provide a seamless digital experience. The initiative is aligned with the EU’s Market in Crypto Assets (MiCA) regulation, which aims to govern the issuance and provision of crypto-asset services across the European Union, ensuring transparency, disclosure, authorization, and supervision to enhance investor protection.

Gonzalo Rodriguez, Head of Retail Banking for Spain at BBVA, emphasized the bank's commitment to supporting its customers in exploring digital assets. He stated, “We want to make it easier for our retail customers in Spain to invest in crypto-assets, through a simple and easy-to-access digital solution on their cell phone. Our goal is to support them as they explore digital assets, backed by the strength and security of a bank like BBVA.” However, it is important to note that the bank will not offer advice on these assets; the clients will be the only ones responsible for their initiatives.

BBVA's expansion into crypto services in Spain follows its previous launches in Switzerland in 2021 and Turkey in 2023. Francisco Maroto, BBVA's Head of Blockchain and Digital Assets, highlighted the bank's continued growth in digital assets, including crypto, stablecoin, tokenized bonds, and funds. This move positions BBVA as a leader in the evolving digital asset landscape in Spain.

The growing demand for crypto in Spain has driven regulatory developments aimed at strengthening safety measures and expanding crypto adoption. Spanish banks are playing a crucial role in this evolution, with BBVA joining other major institutions like Banco Santander and Caixabank in exploring or offering digital asset services. The National Commission for the Promotion of Digital Investments has indicated that more than eight financial institutions have applied for the virtual assets service providers registry, although approvals are still pending.