on Tuesday, citing a company executive.

“With private customers, since September last year, we started advising on Bitcoin,” Philippe Meyer, head of digital and blockchain solutions at BBVA Switzerland, said at a conference in London. He added that the portfolio allocation has now been increased for riskier profiles.

Meyer said clients had been receptive to the bank’s advice and dismissed concerns that the asset was too risky. “If you look at a balanced portfolio, if you introduce 3%, you already boost the performance. At 3%, you are not taking a huge risk,” he said. 

BBVA’s move comes amid continued warnings from European Union regulators and the bloc’s central bank on crypto risks, and while 95% of EU banks are avoiding crypto activities according to the European Securities and Markets Authority (ESMA).

BBVA has been executing crypto trades since 2021 and moved to active advisory in late 2024, positioning itself ahead of most traditional banks.

In March, Spain’s securities regulator allowed the bank to offer Bitcoin (BTC) and Ether (ETH) trading in the country.

BBVA’s crypto offerings were launched in a phased rollout to select clients first, and will enable users to buy, sell, and manage digital assets through its mobile app in the coming months.

BBVA’s expansion into crypto came as the European Markets in Crypto-Assets Regulation (MiCA) reached full implementation at the end of 2024.

EU crypto companies have until July 2026 to fully comply with its stringent requirements under an 18-month transitional phase.

Other banks that are offering select crypto trading include Santander, which is mulling the issuance of its own stablecoin and expanding retail crypto services. 

The bank is considering offering both dollar and euro-pegged stablecoins, according to a May report.