09.09.2025 23:20
In a strategic move to deepen its European presence, the American financial technology firm Ripple has forged a new agreement with the prominent Spanish banking group, Banco Bilbao Vizcaya Argentaria (BBVA). This collaboration marks another significant step for Ripple within the continent's increasingly regulated crypto-asset industry, establishing a solid foothold in Spain.
Under the terms of the new arrangement, BBVA will integrate Ripple’s institutional-grade digital asset custody technology into its operations. This enhancement is specifically for the bank's recently launched cryptocurrency trading and custody service, which caters to its retail clients in Spain and currently supports both Bitcoin (BTC) and Ether (ETH). Francisco Maroto, BBVA's Head of Digital Assets, endorsed the partnership, highlighting that Ripple's proven technology meets the highest security standards and enables the bank to offer a comprehensive, direct custody service to its clientele.
This development is occurring as a growing number of European banks are adapting to the Markets in Crypto-Assets (MiCA) regulation, a landmark legislative framework that standardizes digital asset services across the European Union. Cassie Craddock, Ripple's managing director for Europe, noted that the clarity provided by MiCA has emboldened the region’s banks to confidently roll out the crypto offerings that their customers have been requesting. Ripple’s custody solution is designed to assist these institutions in navigating the new landscape by providing a platform that prioritizes safety, regulatory compliance, and efficiency.
The initiative by BBVA mirrors a broader trend across Europe’s financial sector, as internet sources have indicated that Germany's largest bank, Deutsche Bank, is also planning to introduce cryptocurrency storage services for its clients. This latest agreement also serves as an extension of an existing alliance between Ripple and BBVA, which already includes the use of Ripple's custody technology in Switzerland and Turkey, as well as collaborative pilot programs focused on real-time international money transfers.
