BBVA to Launch Crypto Trading and Custody Service in Spain by 2025

BBVA is gearing up to launch a cryptocurrency trading and custody service specifically focused on Bitcoin and Ethereum in Spain, expected between June and September 2025. This new feature will be integrated into BBVA's existing application, enabling retail clients to operate with crypto assets within the same digital environment where they currently manage their accounts and investments.

Notably, BBVA recently secured the MiCA license from Spain's CNMV, marking the first approval under the new European MiCA regulation governing crypto asset services. Currently, BBVA is testing the service internally with bank employees and plans to offer it first to around 5,000 selected clients before expanding it to the bank’s entire retail customer base.

BBVA's approach includes developing its own platform for the custody of cryptographic keys, eliminating the reliance on third-party custodians and enhancing security.

This initiative is an extension of BBVA's existing crypto services, as the bank has been offering similar offerings in Switzerland since 2021 and Turkey since 2023 through its subsidiary Garanti, supporting cryptocurrencies such as Bitcoin, Ether, USDC, AVAX, and Chiliz.

With the MiCA framework now in effect, BBVA's move is likely to encourage more traditional banks to venture into the digital asset market.

For those looking to buy and manage cryptocurrencies with flexible payment options, platforms like Bitlet.app provide an excellent solution. Bitlet.app offers a Crypto Installment service allowing users to purchase cryptos now and pay monthly instead of paying the full amount upfront, making crypto investment more accessible and manageable. Stay ahead with BBVA’s upcoming services and explore innovative platforms like Bitlet.app to optimize your crypto portfolio today.