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Spanish Bank BBVA Gets Green Light to Offer BTC and ETH Trading: Report
BBVA had been working on allowing crypto trading services since 2020.
Updated Mar 10, 2025, 2:54 p.m. Published Mar 10, 2025, 6:01 a.m.
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What to know:
- Spanish financial giant Banco Bilbao Vizcaya Argentaria (BBVA) has received approval from Spain's financial regulator to offer bitcoin and ether trading to its clients, as the Markets in Crypto-Assets regulation takes effect across the European Union.
- This approval concludes a multi-year process for BBVA to allow its clients to gain exposure to digital assets.
- BBVA, which launched crypto trading in Turkey in January, is not the first European bank to enter the crypto market, with Deutsche Bank and Société Générale also offering crypto-related services.
Spanish financial giant Banco Bilbao Vizcaya Argentaria (BBVA) has gotten approval from the country's financial regulator to offer bitcoin and ether trading to its clients, according to a Reuters report.
The approval come as the Markets in Crypto-Assets (MiCA) regulation takes full effect across the European Union. This approval for BBVA marks the conclusion of a multi-year process for the Spanish lender to allow for its clients to get exposure to digital assets.
STORY CONTINUES BELOW
In 2020, CoinDesk reported that BBVA planned to dip its toes in the sector, pending regulatory approval because MiCA wasn't yet in place.
BBVA initially planned to launch its crypto services from Switzerland rather than Spain or other EU countries because Switzerland already had a clear regulatory framework for digital assets under the Financial Market Supervisory Authority (FINMA).
In January, BBVA launched crypto trading in Turkey through a local subsidiary.
BBVA isn’t the first European bank to enter crypto, with Germany's Deutsche Bank developing an Ethereum rollup with ZKsync and offering custody with Taurus, while Société Générale’s SG-FORGE is launching a euro stablecoin on the XRP Ledger, CoinDesk previously reported.
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Crypto group counters Wall Street bankers with its own stablecoin principles for bill
After the bankers shared a document at the White House demanding a total ban on stablecoin yield, the crypto side answers that it needs some stablecoin rewards.
Що варто знати:
- The U.S. Senate's crypto market structure bill has been waylaid by a dispute over something that's not related to market structure: yield on stablecoins.
- The Digital Chamber is offering a response to a position paper circulated earlier this week by bankers who oppose stablecoin yield.
- The crypto group's own principles documents argues that certain rewards are needed on stablecoin acvitity, but that the industry doesn't need to pursue products that directly threaten bank deposits business.
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