Spanish Bank BBVA Now Allows Its Clients to Buy, Sell and Hold Bitcoin ($BTC) and Ethereum ($ETH) via its Mobile App.
The service is available to anyone who has a BBVA account in Switzerland. This is because Switzerland supports crypto trading with favorable rules.
With this latest move, BBVA is among the first big banks in Europe to offer crypto trading directly in its app. The bank says it wants to let people more easily invest in digital coins, while still ensuring strong security and compliance with the rules.
BBVA hopes the move encourages more people to use Bitcoin and Ethereum more safely.
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“We want to make it easier for our retail customers in Spain to invest in crypto-assets, through a simple and easy-to-access digital solution on their cell phone. Our goal is to support them as they explore digital assets, backed by the strength and security of a bank like BBVA.”
Gonzalo Rodríguez, Head of Retail Banking for Spain.
BBVA has begun offering crypto services in Spain under the EU’s MiCA rules which aim to offer investor protection and clear rules for crypto across Europe. The bank confirmed it will provide no investment advice on these assets.
Spain is now BBVA’s third cryptocurrency market after it started offering the service in Switzerland last year and Turkey in 2023. In Switzerland, BBVA began offering bitcoin trading for private banking clients, and has since added ethereum and USDC. While some banks kept the service exclusive for accredited investors, BBVA did not, but it required a minimum deposit of $10,000.
