BBVA Secures Approval for Bitcoin and Ether Trading in Spain | 2025
BBVA Secures Approval for Bitcoin and Ether Trading in Spain
Banco Bilbao Vizcaya Argentaria (BBVA) has made headlines with its recent announcement on March 10, revealing that it has received the green light from Spain’s securities regulator, the Comisión Nacional del Mercado de Valores (CNMV), to offer trading services for Bitcoin and Ether to its customers. This significant move positions Spain’s second-largest bank at the forefront of the cryptocurrency revolution, allowing users to buy, sell, and manage digital assets directly through its mobile app.
BBVA’s Innovative Crypto Offerings
With this new service, BBVA aims to enhance its digital banking experience by integrating cryptocurrency trading into its platform. The bank will utilize its own cryptographic key custody platform, ensuring that it maintains full control over customer holdings without the need for third-party involvement. This approach not only enhances security but also builds trust among users who are increasingly concerned about the safety of their digital assets.
Gradual Rollout of Services
Initially, the rollout of Bitcoin and Ether trading will be limited to a select group of users. However, BBVA has plans to gradually expand these services to all private customers across Spain in the coming months. This phased approach allows the bank to fine-tune its offerings and address any potential issues before a full-scale launch.
BBVA’s Global Crypto Expansion
BBVA’s entry into the cryptocurrency market in Spain follows its successful launch of Bitcoin custody and trading services for private banking clients in Switzerland back in June 2021. The Swiss branch has since broadened its offerings to include Ether and the USDC stablecoin, demonstrating the bank’s commitment to staying ahead in the rapidly evolving digital asset landscape.
In January 2025, BBVA’s Turkish subsidiary, Garanti BBVA Kripto, also launched its own cryptocurrency trading platform, further showcasing the bank’s dedication to expanding its crypto services across different regions. With Spain now joining the ranks, BBVA is strategically positioning itself to meet the growing demand for cryptocurrency services in line with evolving European regulations.
Regulatory Landscape and MiCA Framework
BBVA’s expansion into the cryptocurrency market comes at a pivotal time as the European Union prepares for the implementation of the Markets in Crypto-Assets (MiCA) framework, which is set to take effect at the end of 2024. While the framework is now in effect, crypto companies in the EU have until July 2026 to fully comply with its requirements under an 18-month transitional phase. This regulatory clarity is expected to accelerate the integration of cryptocurrency services within traditional finance.
Since the rollout of MiCA, traditional finance firms have been racing to secure MiCA licenses and integrate crypto services into their offerings. For instance, prime brokerage Hidden Road received its MiCA license in the Netherlands on December 30, 2024, while other firms like Boerse Stuttgart Digital Custody have also received approval in Luxembourg. This trend highlights the increasing acceptance of cryptocurrencies within the financial sector.
Adapting to New Regulations
Crypto-native companies are also adjusting to the new regulatory landscape. In January 2025, several firms announced their plans to obtain MiCA licenses to ensure compliance with the new regulations. Bybit, which faced challenges in the past, has recently expressed its intent to secure a MiCA license, indicating a shift towards regulatory compliance in the crypto industry.
Conclusion: A New Era for BBVA and Cryptocurrency
BBVA’s approval to offer Bitcoin and Ether trading in Spain marks a significant milestone for the bank and the broader cryptocurrency market. As traditional financial institutions embrace digital assets, customers can expect a more integrated and secure banking experience. With the gradual rollout of these services, BBVA is poised to become a key player in the evolving landscape of cryptocurrency trading in Europe.