07.07.2025 16:17

Spain's second-largest bank, BBVA, has made Bitcoin trading readily accessible to all its retail customers nationwide. Now integrated into the BBVA mobile application, Spanish customers of legal age can seamlessly buy, sell, and hold Bitcoin and other cryptocurrencies.

This significant development follows BBVA's successful completion of the regulatory process mandated by the National Securities Market Commission (CNMV), in accordance with the EU's Markets in Crypto-Assets (MiCA) regulation. Importantly, the bank explicitly stated it will refrain from providing investment advice, emphasizing that customer access is entirely self-directed via the app.

According to Gonzalo Rodríguez, Head of Retail Banking in Spain, the initiative aims to simplify cryptocurrency investment for their clients, providing a user-friendly digital solution readily available on their smartphones. He further highlighted BBVA's commitment to supporting customers exploring digital assets, leveraging the bank's established reputation for security and stability.

BBVA's innovative approach to cryptocurrency custody is noteworthy. Unlike many competitors, the bank manages its Bitcoin and crypto holdings internally, employing its secure cryptographic key infrastructure. This strategic decision eliminates reliance on third-party custodians, enabling BBVA to maintain complete control and ensure the robust protection of customer assets.

This Spanish rollout represents another step in BBVA's global expansion of digital asset services. Building upon successful launches in Switzerland (2021) and Turkey (2023), Francisco Maroto, Head of Digital Assets at BBVA, underscores the bank's commitment to growth within the digital assets sector, a testament to its ongoing dedication to innovation and digital leadership. The recent launch follows earlier initiatives, including the introduction of crypto services for private clients in Switzerland and the establishment of a digital asset platform through Garanti BBVA in Turkey. Further fueling this expansion, BBVA's private banking division recently advised high-net-worth clients to consider allocating 3% to 7% of their portfolios to cryptocurrencies.