BBVA brings Bitcoin and Ethereum trading service for Spanish customers

Spanish bank BBVA is launching a crypto trading service, enabling customers in Spain to buy, sell, and manage Bitcoin and Ethereum via its app.

The second-largest Spanish financial institution by volume of assets, BBVA, is set to roll out a new crypto trading service in Spain, allowing customers to buy and manage the two largest cryptocurrencies by market capitalization, Bitcoin (BTC) and Ethereum (ETH).

In a March 10 press release, the banking giant said that the service will first be available to a small group of users before expanding to all private customers in the coming months. The launch comes after BBVA completed regulatory formalities under the Markets in Cryptoassets Regulation — also known as MiCA — with Spain’s financial regulator.

Customers in Spain will be able to manage their crypto transactions alongside their regular banking activities, the banks says. BBVA will use its own custody platform for cryptographic keys without relying on third-party providers.

“We want to make it easier for our customers to invest in cryptoassets with a simple, accessible offering available directly from their mobile phones, in a fully digital manner. 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.”

Gonzalo Rodríguez, head of retail banking in Spain

The bank already offers similar services in Switzerland and Türkiye, where it introduced crypto trading in 2021 and 2023, respectively. In Türkiye, Garanti BBVA provides custody services for multiple cryptocurrencies. In Switzerland, its local unit launched Bitcoin trading in 2021, later adding support for Ethereum and Circle’s stablecoin USD Coin (USDC).