Catenaa, Saturday, July 12, 2025-Spain’s second-largest bank, BBVA, has introduced Bitcoin and Ethereum trading and custody services directly through its proprietary mobile platform, marking a major expansion of regulated crypto offerings in Europe.
Approved by Spain’s National Securities Market Commission in March, the bank now enables retail clients to buy, sell, and hold Bitcoin and Ethereum without relying on third-party custodians or external providers. BBVA clarified it does not offer investment advice, allowing customers to operate autonomously within the app.
Gonzalo Rodríguez, BBVA’s head of retail banking in Spain, said the goal is to make crypto investment simple and accessible through a user-friendly platform. The service complies with the European Union’s Markets in Crypto-Assets regulation, setting uniform standards for crypto businesses across EU member states.
BBVA’s Spanish rollout builds on its earlier success in Switzerland, where it began offering Bitcoin custody and trading for private banking clients in 2021. The Swiss branch has since expanded to include Ethereum, Solana, XRP, and AVAX and recommended cryptocurrency portfolio allocations between 3% and 7% for wealth management clients.
In addition to Bitcoin and Ethereum, BBVA offers USD Coin stablecoin trading and custody, supporting fast transactions and volatility hedging. Spain’s crypto adoption has surged, with nearly 9% of citizens holding digital assets, a figure doubling since 2022.
Despite growing interest, Spain enforces strict tax rules on crypto gains, requiring taxpayers to report profits exceeding €6,000, taxed at rates between 19% and 28%.
