Banco Bilbao Vizcaya Argentaria (BBVA), Spain’s second-largest bank, has received approval from the country’s securities regulator, the Comisión Nacional del Mercado de Valores (CNMV), to provide Bitcoin (BTC) and Ether (ETH) trading services to its customers. The announcement, made on March 10, marks a significant step in BBVA’s expansion into the cryptocurrency sector.
BBVA’s new crypto services will allow users to buy, sell, and manage digital assets seamlessly through the bank’s mobile application. Unlike many financial institutions that rely on third-party custodians, BBVA will maintain full control over customer holdings using its proprietary cryptographic key custody platform. The rollout will begin with a select group of users before expanding to all private customers across Spain in the coming months.
A Growing Crypto Footprint
BBVA’s journey into digital assets began in Switzerland, where it launched Bitcoin custody and trading services for private banking clients in June 2021. Since then, its Swiss operations have expanded to include Ethereum and the stablecoin USD Coin (USDC). Customers in Spain will now have the opportunity to integrate cryptocurrency management into their regular banking activities, benefiting from the security and regulatory oversight of a major financial institution.
“We want to make it easier for our customers to invest in crypto assets with a simple, accessible offering available directly from their mobile phones, in a fully digital manner,” said Gonzalo Rodríguez, BBVA’s head of retail banking in Spain. “Our goal is to guide them as they explore this new segment of digital assets, backed by the solvency and security assurances provided by a bank like BBVA.”
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Expanding Crypto Services Beyond Spain
BBVA has been steadily increasing its presence in the crypto market across multiple regions. The bank introduced Bitcoin trading in Switzerland in 2021, later adding Ethereum and USDC. In Türkiye, its subsidiary Garanti BBVA launched cryptocurrency custody services in 2023, further solidifying BBVA’s commitment to digital asset offerings.
With its latest regulatory approval, BBVA is poised to make cryptocurrency trading more accessible to Spanish customers while maintaining stringent security measures. This move aligns with the bank’s broader strategy of integrating digital assets into traditional banking services, reinforcing its position as a leader in financial innovation.
