🤯🔥The Bank That Took the First Step in Türkiye Received Permission in Spain This Time, Bitcoin and Ethereum Trading Begins❗🇪🇸
Spain’s second-largest bank,
#BBVA , is preparing to offer Bitcoin (
#BTC ) and Ethereum (ETH) trading services with the approval of the financial regulator.
-based financial giant Banco Bilbao Vizcaya Argentaria (BBVA) has officially left Spain to offer cryptocurrency trading, which has finally come true after a long period of regulation. The implementation of the European Union-wide personal crypto asset market regulation MiCA played a critical role in the bank’s taking this step.
Turkey was BBVA’s first stop
BBVA’s cryptocurrency adventure actually started much earlier. The bank first started working to step into digital assets in 2020. However, since the MiCA regulation had not yet been finalized in the European Union, the bank planned to launch cryptocurrency services primarily through Switzerland. Switzerland was BBVA’s first choice for having clear regulations on digital assets.
BBVA took its first concrete step in Turkey in January of this year. BBVA, which offers cryptocurrency trading services through its subsidiary Garanti BBVA Crypto platform in Türkiye, will now implement a similar name for customers in Spain.
Competition is increasing among banks
BBVA is not the only major bank in Europe to enter the cryptocurrency sector.
Giant companies such as Germany's Deutsche Bank and France's Société Générale have entered the digital assets sector with similar services. Deutsche Bank is developing an Ethereum-based ZK-rollup technology, while Société Générale is developing a euro-pegged stablecoin on the XRP Ledger.
#MarketPullback #CryptoMarketWatch #TrumpCryptoSummit