Banco Bilbao Vizcaya Argentaria (BBVA) introduced on March 10 that it had acquired the nod from Spain’s securities regulator, the Comisión Nacional del Mercado de Valores (CNMV), to supply Bitcoin (BTC) and Ether (ETH) buying and selling providers to its prospects.
Spain’s second-largest financial institution’s crypto choices in Spain will allow customers to purchase, promote and handle digital belongings by way of its cellular app. The lender said it'll use its personal cryptographic key custody platform to take care of full management over buyer holdings with out third-party involvement.
Initially, the rollout can be restricted to a choose group of customers earlier than progressively increasing to all non-public prospects throughout the Iberian nation within the coming months.
Associated: Bitcoin and Ether can ‘greatly improve’ portfolio performance: BBVA
BBVA’s crypto journey started in Switzerland
BBVA’s foray into crypto began in Switzerland, the place it launched Bitcoin custody and buying and selling providers for personal banking shoppers in June 2021. The Swiss department has since broadened its choices to incorporate Ether and the USDC (USDC) stablecoin.
In January 2025, BBVA’s Turkish subsidiary Garanti BBVA Kripto launched its crypto trading services to the public. With Spain now coming into the fold, BBVA is broadening its crypto providers in keeping with evolving European laws.
TradFi and crypto corporations scramble for MiCA allow
BBVA’s growth comes because the Markets in Crypto-Assets Regulation (MiCA) reached full implementation on the finish of 2024. Whereas the framework is now in impact, crypto firms within the EU have till July 2026 to totally adjust to its necessities beneath an 18-month transitional part.
The grandfather interval, or transitional part, for crypto corporations to change into MiCA-compliant lasts till July 2026. Supply: ESMA
Since MiCA’s rollout, conventional finance corporations have accelerated their efforts to safe MiCA licenses and combine crypto providers. Prime brokerage Hidden Street obtained its MiCA license within the Netherlands on Dec. 30, 2024. Standard Chartered followed on Jan. 9, receiving approval in Luxembourg, whereas Boerse Stuttgart Digital Custody grew to become Germany’s first MiCA-licensed crypto service provider on Jan. 17.
Crypto-native firms are additionally adjusting to the brand new regulatory panorama. In January 2025, major exchanges OKX, Crypto.com and HashKey all secured MiCA approval. Bybit, which suffered the largest hack in crypto history, was not too long ago removed from France’s blacklist and has expressed intent to acquire a MiCA license subsequent.
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