BBVA Partners with Bit2Me: Launching Crypto Trading Services in Europe

BBVA and MiCA Regulation: The Future of Crypto Trading for European Banks

BBVA Partners with Bit2Me – Banco Bilbao Vizcaya Argentaria (BBVA), one of Spain’s largest banking institutions, is further deepening its involvement in the cryptocurrency space. The bank’s Turkish subsidiary, Garanti BBVA Kripto, which is nearly 86% owned by BBVA, is preparing to launch crypto trading services for the general public. The platform will leverage Bit2Me, a prominent Spanish crypto exchange, as its trading execution center.

MiCA Regulation Boosts Crypto Adoption Across Europe

With the full implementation of the Markets in Crypto-Assets (MiCA) regulation across the European Union, BBVA’s partnership with Bit2Me signals a broader shift in the financial sector. According to Abel Peña, Bit2Me’s Chief Sales Officer, this move is just the beginning. “I believe in 2025 we are going to see many banks across Europe offering crypto spot trading,” Peña stated. The partnership underscores the growing interest in cryptocurrencies within Europe, with over 50 financial institutions in close discussions to roll out crypto-related services in the first quarter of 2025.

BBVA’s Role in Turkey and Expansion Plans

BBVA has been progressively embracing the crypto industry, starting in Turkey where the regulatory environment allowed for early adoption. Now that MiCA is in effect, European financial institutions like BBVA will be able to provide exposure to bitcoin (BTC), ether (ETH), and other cryptocurrencies to their customers. Peña further explained, “Once they have the green light, they will start rolling out services.”

The Growing Interest in Crypto from Banks

The increasing enthusiasm for crypto in the banking sector can be attributed to multiple factors. Besides the regulatory certainty provided by MiCA, U.S. President-elect Donald Trump’s support for crypto and the success of U.S. spot bitcoin exchange-traded funds (ETFs), which have attracted a record $35 billion in less than a year, have played pivotal roles. “Bitcoin is an asset that many users and companies want exposure to, and banks cannot deny this anymore,” Peña emphasized.

European Banks Embrace Crypto

BBVA is not the only European bank entering the crypto space. Deutsche Bank, Germany’s largest multinational investment bank, is working on a rollup on Ethereum using ZKsync technology and has partnered with Taurus, a Swiss start-up, for crypto custody and tokenization services. Similarly, Société Générale, a French financial giant, is expanding its crypto arm, SG-FORGE, and plans to launch its own euro stablecoin on the XRP Ledger (XRPL) network.

As more banks align with the growing demand for crypto services, the landscape of traditional banking continues to evolve, with institutions increasingly recognizing the value and potential of digital assets.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.