- Spain’s second-largest bank, BBVA, has secured approval to offer Bitcoin and Ether trading.
- The move aligns with the shift in European banking as institutions race to comply with MiCA regulations.
Spain’s banking giant Banco Bilbao Vizcaya Argentaria (BBVA) has been approved by the country’s securities regulator, the Comisión Nacional del Mercado de Valores (CNMV), to offer Bitcoin (BTC) and Ether (ETH) trading services.
BBVA now will allow clients to buy, sell, and manage digital assets directly through its official mobile banking app. Unlike third-party crypto platforms, the bank will provide custody services using its own cryptographic key management system. Initially, access will be limited to select users before rolling out to all private clients in the coming months.
BBVA is valued at around $840 billion, and this expansion follows a trend of traditional financial institutions moving into the crypto space. Now that regulations around digital assets are solidifying, major banks are already positioning themselves to satisfy the growing demand for secure crypto services.
A Strategic Expansion
Historically, BBVA’s crypto journey began in Switzerland. In 2021, the bank introduced Bitcoin trading and custody services for private banking clients under the Swiss Financial Market Supervisory Authority (FINMA). Later, it expanded those offerings to include Ethereum and the USDC stablecoin.
In January 2024, BBVA took another decisive step by launching crypto trading in Turkey through its subsidiary, Garanti BBVA Kripto. Now, with regulatory approval in Spain, the bank continues to widen its crypto recognition across Europe.
Meanwhile, BBVA has been preparing for this expansion since 2020 but waited for clearer regulations and a healthy crypto environment. With Spain now on board, the bank is strengthening its position as a leader in crypto adoption within traditional finance.
MiCA Compliance Fuels Institutional Crypto Adoption
BBVA’s approval comes at the right time, as the European Union’s Markets in Crypto-Assets (MiCA) regulation is now fully in effect. This will bring a structured framework to digital asset services across the region. While companies have until July 2026 to achieve full compliance, many financial institutions are moving quickly to align with the new standards.
Since MiCA’s rollout, both traditional banks and crypto-native firms have been racing to secure regulatory approval. For instance, Hidden Road obtained its MiCA license in the Netherlands, while Standard Chartered received approval in Luxembourg, and Boerse Stuttgart Digital Custody became Germany’s first MiCA-licensed crypto service provider in January.
Crypto exchanges are also adjusting. OKX, Crypto.com, and HashKey all secured MiCA approval earlier this year. Meanwhile, Bybit, which suffered a record-breaking hack, recently made headlines by getting removed from France’s blacklist as it works toward regulatory compliance.
BBVA’s move signals that mainstream banks are no longer sidelining crypto. Instead, they’re integrating it within traditional banking services, making digital assets more accessible to everyday investors.
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