BBVA has launched cryptocurrency trading and custody services for retail clients in Spain, allowing individuals of legal age to buy, sell, and hold bitcoin and ether directly within the bank’s mobile app. The rollout follows the bank’s disclosure to Spain’s National Securities Market Commission and aligns with the European Union’s Markets in Crypto-Assets regulation.
Spanish users now have access to fully integrated crypto trading features alongside BBVA’s broader suite of digital banking services. The bank will not provide advisory services for crypto, and access to the functionality must be initiated by customers through the app.
“Backed by the strength and security of a bank like BBVA”
Gonzalo Rodríguez, Head of Retail Banking for Spain, commented, “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.”
BBVA first entered the crypto space in 2021 with a bitcoin trading and custody offering for private banking clients in Switzerland. That service was later expanded to include ether and stablecoin USDC. In 2023, BBVA’s Turkish affiliate Garanti BBVA launched a specialized company that provides access to several cryptocurrencies, including Solana, XRP, AVAX, and Chiliz.
Spain now becomes the third country where BBVA offers digital asset services to a wider client base. The bank said the move reflects its long-term experience in blockchain and its intention to combine innovation with regulatory compliance. The Spanish rollout builds on the bank’s phased approach to integrating crypto capabilities within traditional banking frameworks.
Francisco Maroto, Head of Digital Assets at BBVA, remarked, “Following this launch in Spain, BBVA has added another country to its Digital Assets service, which was first introduced in Switzerland in 2021, followed by Turkey in 2023. Mirroring BBVA’s leadership in digitization and innovation, we are continuing to grow our digital assets business, both with new assets (crypto or stablecoins) and with traditional assets in tokenized form (bonds, funds). Our aim is to offer the best investment and transaction-based solutions to our customers.”
BBVA confirmed that the new crypto services operate within the safeguards established under MiCA, providing users with access to blockchain-based assets through a regulated and secure environment.
Garanti BBVA Kripto tapped Wyden
Last month, Turkish operation Garanti BBVA Kripto partnered with Wyden to enhance its institutional-grade infrastructure as it expands crypto services for both retail and corporate clients.
As a subsidiary of Garanti BBVA, one of Turkey’s largest banks, Garanti BBVA Kripto plans to offer trading in Turkish Lira and US Dollar pairs, as well as crypto-to-crypto transactions. The integration of Wyden’s infrastructure is expected to streamline trading, improve risk controls, and meet evolving regulatory standards.
