BBVA Introduces Cryptocurrency Trading and Safekeeping for Individual Clients in Spain
BBVA, Spain's second-largest bank, has taken a significant step forward in its digital assets offering by making bitcoin and ether trading and custody services available to all retail customers of legal age in Spain[1][2][3]. This move follows the bank's initial launch of crypto services in Switzerland in 2021 and Turkey in 2023[4][3].
The service, accessible through BBVA's mobile app, allows customers to buy, sell, and hold bitcoin and ether within a fully integrated digital banking environment[1][2]. Unlike many banks that rely on external exchanges or third-party custodians, BBVA has integrated crypto custody into its own infrastructure[2][4].
BBVA's digital assets service is designed to comply with the European Union's Markets in Crypto-Assets (MiCA) regulation[1][2][3]. MiCA establishes a harmonized legal framework for crypto-asset services across EU member states, aiming to enhance investor protection, market integrity, and financial stability. The service aligns with MiCA's standards, providing retail customers with a regulated and secure digital asset platform[1][3].
The service rollout began in early July 2025, with the expectation that all eligible customers would have access within a week[3]. BBVA filed the necessary disclosures with Spain’s National Securities Market Commission (CNMV) in March 2025, following the planned regulatory approval process[4][2][1].
Francisco Maroto, head of digital assets at BBVA, stated that the bank is growing its digital assets business, including new assets like crypto or stablecoins, and traditional assets in tokenized form like bonds and funds[4]. This move is part of BBVA's broader digital transformation, aiming to offer a comprehensive digital assets ecosystem.
By making crypto trading and custody available to retail customers, BBVA is responding to rising demand for digital assets among everyday users in Europe[3][4]. The bank's compliance with MiCA and local regulatory requirements, such as those from the CNMV, provides a trusted and transparent framework for retail crypto adoption in Spain[1][2].
A summary of key regulatory and service details is provided below:
| Aspect | Details | |-----------------------------|-------------------------------------------------------------------------| | Regulatory Body | CNMV (Spain), MiCA (EU) | | Launch Date | Early July 2025 | | Service Access | Retail customers of legal age via mobile app | | Assets Supported | Bitcoin (BTC), Ether (ETH) | | Investment Advice | Not provided | | Custody Solution | Fully integrated within BBVA infrastructure | | Compliance | MiCA regulation, CNMV approval |
BBVA's initiative positions it as a leader in offering regulated, secure, and accessible digital asset services to retail customers in Europe[1][2][3]. The bank may introduce additional crypto-assets and tokenized products in future phases.
- BBVA's digital assets service, enabled through their mobile app, is integrated within their digital banking environment, allowing retail customers to buy, sell, and hold bitcoin and ether, leveraging technology and finance to cater to the growing demand for digital assets in Europe.
- As part of its broader digital transformation and response to rising demand, BBVA's digital assets business encompasses not only crypto and stablecoins but also traditional assets in tokenized form, ensuring compliance with the European Union's MiCA regulation and local regulatory bodies like Spain's CNMV, thereby providing a trusted and transparent framework for retail crypto adoption.
