BBVA Expands Crypto Trading to Spain
BBVA Expands Crypto Trading to Spain
Banco Bilbao Vizcaya Argentaria (BBVA) has received approval from Spain's Comisión Nacional del Mercado de Valores (CNMV) to offer Bitcoin (BTC) and Ether (ETH) trading services to its customers. This expansion allows users to buy, sell, and manage digital assets directly through the BBVA mobile app.
BBVA will utilize its own cryptographic key custody platform, ensuring customers maintain full control of their holdings without third-party involvement. The rollout will initially target a select group of users before expanding to all private customers across Spain in the coming months.
BBVA's Expanding Crypto Footprint
BBVA's journey into the crypto space began in Switzerland in June 2021, where it launched Bitcoin custody and trading services. Its Swiss branch has since added Ether and USDC stablecoin to its offerings. In January 2025, Garanti BBVA Kripto, its Turkish subsidiary, launched public crypto trading services. The Spanish launch further broadens BBVA's crypto services in line with evolving European regulations.
MiCA Compliance and Industry Trends
This expansion coincides with the full implementation of the Markets in Crypto-Assets Regulation (MiCA) in late 2024. While the framework is now in effect, crypto companies have until July 2026 to fully comply. Several TradFi firms and crypto companies have already secured MiCA licenses, including:
- Hidden Road (Netherlands)
- Standard Chartered (Luxembourg)
- Boerse Stuttgart Digital Custody (Germany)
- OKX, Crypto.com, and HashKey (EU-wide)
This highlights the growing integration of crypto services within traditional financial institutions and the industry's adaptation to the new regulatory landscape.
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