Spanish banking giant BBVA is set to introduce cryptocurrency trading services in Spain, allowing customers to buy, sell, and manage Bitcoin (BTC) and Ethereum (ETH) directly through its mobile app. The move marks a significant expansion of the bank’s digital asset offerings, aligning with its broader push into the crypto sector.
BBVA’s Crypto Expansion in Spain
As Spain’s second-largest financial institution by assets, BBVA has taken steps to comply with the Markets in Cryptoassets Regulation (MiCA) framework, securing regulatory approval from Spain’s financial authority. In a March 10 press release, the bank announced that the service would initially be available to a limited group of users before rolling out to all private customers in the coming months.
BBVA customers in Spain will be able to manage their crypto investments seamlessly alongside their traditional banking activities. Unlike some banks that rely on third-party custodians, BBVA will use its own custody platform to manage cryptographic keys, reinforcing security and regulatory compliance.
A Fully Digital Approach to Crypto Trading
Gonzalo Rodríguez, BBVA’s head of retail banking in Spain, emphasized the importance of making crypto investments simple and accessible:
“We want to make it easier for our customers to invest in cryptoassets with a simple, accessible offering available directly from their mobile phones, in a fully digital manner. Our goal is to guide them as they explore this new segment of digital assets, backed by the solvency and security assurances provided by a bank like BBVA.”
Expanding Crypto Services Globally
BBVA has been actively expanding its crypto services beyond Spain. The bank first introduced Bitcoin trading in Switzerland in 2021, later adding support for Ethereum and Circle’s USD Coin (USDC). In Türkiye, its subsidiary Garanti BBVA launched crypto custody services for multiple cryptocurrencies in 2023.
The bank’s growing involvement in digital assets reflects increasing institutional interest in crypto adoption. As BBVA strengthens its presence in the crypto sector, its latest move in Spain signals a shift toward greater mainstream integration of digital assets within the European banking landscape.
The Road Ahead
With BBVA’s crypto trading service now coming to Spain, the bank is positioning itself as a key player in the evolving digital asset ecosystem. As regulatory frameworks like MiCA continue to take shape, BBVA’s commitment to compliance and security could set a precedent for other financial institutions looking to enter the crypto space.
