Crypto Goes Mainstream: BBVA to Offer Bitcoin and Ether Trading
Spanish bank BBVA has received approval from Spain’s securities regulator to offer bitcoin and ether trading services to its clients. This development aligns with the European Union’s Markets in Crypto-Assets (MiCA) regulation, which fully took effect on December 30, 2024, providing a unified legal framework for crypto-assets across EU member states. MiCA aims to enhance market integrity and financial stability by regulating public offers of crypto-assets and ensuring consumers are better informed about associated risks.
BBVA’s move into the cryptocurrency market reflects a broader trend among European financial institutions integrating digital assets into their services. For instance, Deutsche Bank is developing an Ethereum rollup in collaboration with ZKsync and partnering with Taurus for custody services, while Société Générale’s SG-FORGE is preparing to launch a euro stablecoin on the XRP Ledger. These initiatives indicate a growing acceptance and integration of cryptocurrencies within traditional banking frameworks in Europe.
As MiCA continues to shape the regulatory landscape, BBVA’s entry into the crypto market is expected to boost investor confidence and pave the way for further innovations in digital finance.