BBVA Secures Regulatory Approval to Offer Bitcoin and Ether Trading in Spain

BBVA Secures Regulatory Approval to Offer Bitcoin and Ether Trading in Spain

Spanish banking giant Banco Bilbao Vizcaya Argentaria (BBVA) has received approval from the country’s financial regulator to provide Bitcoin (BTC) and Ether (ETH) trading services to its clients, according to a report from Reuters.

This milestone comes as the Markets in Crypto-Assets (MiCA) regulation takes full effect across the European Union, marking the end of a multi-year process for BBVA to integrate digital asset offerings into its services.

BBVA first expressed interest in the crypto space in 2020, as previously reported by CoinDesk. At the time, regulatory uncertainties in the EU prompted the bank to consider launching its services in Switzerland, where the Financial Market Supervisory Authority (FINMA) had already established a clear framework for digital assets.

Beyond Spain, BBVA has already expanded its crypto trading services internationally. In January, the bank introduced crypto trading in Turkey through a local subsidiary.

BBVA is not the first major European bank to embrace digital assets. Deutsche Bank has been actively developing an Ethereum rollup with ZKsync while also offering crypto custody services via Taurus. Meanwhile, Société Générale’s SG-FORGE has launched a euro-backed stablecoin on the XRP Ledger, according to previous reports from CoinDesk.

This regulatory approval further cements the growing adoption of digital assets within Europe’s traditional banking sector, as financial institutions continue to explore new opportunities in the evolving crypto landscape.