Catenaa, Saturday, March 15, 2025-Spanish banking giant BBVA has received regulatory approval to offer Bitcoin and Ether trading services in Spain, marking a major expansion of its digital asset operations.
The bank announced Monday that the Spanish securities regulator cleared its plan to launch crypto trading, with services set to roll out in the coming months. Initially, access will be limited to a select group of users before a wider release to private banking customers across the country.
Unlike competitors relying on third-party custodians, BBVA will handle crypto storage in-house through its proprietary cryptographic key custody platform. The bank will not provide investment advisory services, emphasizing that customers must manage their own digital asset transactions.
Gonzalo Rodríguez, BBVA Spain’s Head of Retail Banking, highlighted the bank’s goal of offering a secure and user-friendly crypto trading experience through its mobile platform. The expansion follows BBVA’s success in Switzerland and Türkiye, where it has offered crypto trading and custody since 2021 and 2023, respectively.
Spain’s growing crypto market played a role in BBVA’s decision. A recent European Central Bank survey found that 9% of Spaniards now own digital assets, more than double the 2022 figure. With crypto adoption projected to reach 31.55% by the end of 2025, BBVA sees significant opportunity in the sector.
