BBVA Shakes Up Finance: Customers Can Now Buy and Sell Bitcoin Like Foreign Currency
The second-biggest bank in Spain, BBVA, launched cryptocurrency trading for domestic retail customers around the clock on October 2. It was the first significant lender in the nation to include Ether and Bitcoin into its widely used mobile banking system. The launch is one of the first significant uses of the EU’s MiCA framework and was approved by Spain’s CNMV. European banks that are still wary of retail cryptocurrency services are anticipated to be impacted.
Customers can now purchase, sell, and hold Bitcoin and Ether directly through Banco Bilbao Vizcaya Argentaria’s (BBVA) mobile app. Trades are carried out utilizing the same rails that the bank uses for foreign exchange. Users are guaranteed a controlled and comfortable trading environment thanks to this connection. The action, according to Luis Martins, global head of macro trading at BBVA, demonstrates growing demand from regular investors.
Digital assets are rapidly becoming part of global finance. Our clients expect to access them through the same trusted systems they already use,
Martins
Europe’s Banking Shake-Up: BBVA’s Crypto Launch May Spark Rival Race
Singapore-based SGX FX, whose technology provides financial institutions with pricing, aggregation, and risk management capabilities, is supporting the deployment. According to COO Vinay Trivedi, the solution lowers entry barriers by enabling institutions to incorporate cryptocurrency without replacing the entire stack.
The early adoption of BBVA may put pressure on rivals throughout Europe to do the same. Banks like KBC and Deutsche Bank have investigated blockchain but have not yet introduced 24/7 crypto trading, and MiCA explains regulations for digital assets.
Investors Pile Into BBVA Stock After Bank’s Bold Crypto Integration
The growing interest in the bank’s digital approach has also been reflected in BBVA’s shares. Following initial increases, the stock showed consistent momentum as it traded at $19.08 as of October 2. The fact that the daily volume has surpassed one million shares indicates that investors are actively participating. From $9.50 at the beginning of the year, the stock has increased by over 96%. The market’s appreciation of its innovative role in integrating cryptocurrency services into traditional banking is demonstrated by the nearly twofold increase in share value.
For more up-to-date crypto news, you can follow Crypto Data Space.
