according to the materials of the site - By ETHNews

BBVA has begun offering trading in Bitcoin and Ethereum and their storage to its retail clients in Spain. The service is available through a mobile app and to all adult clients in the country. With this, BBVA becomes one of the first major banks in Spain to provide direct access to cryptocurrencies through its standard digital banking platform.

The service allows users to buy, sell, and store cryptocurrencies without relying on external exchanges or third-party custodians. Unlike several financial institutions that offer similar services through separate apps or intermediaries, BBVA has chosen to fully integrate cryptocurrency operations into its existing digital framework. All transactions are carried out directly by the user, and the bank does not provide investment advice regarding digital currencies.

The offering complies with the European Union's regulation on crypto-assets markets (MiCA), which comes into effect in 2025. MiCA establishes uniform rules for cryptocurrency activities across all EU member states. BBVA's integration aligns with these regulatory requirements, providing Spanish users with a secure and standardized way to interact with digital assets.
Gonzalo Rodriguez, who heads the retail banking segment of BBVA in Spain, stated that the goal is to offer clients an easy and direct way to participate in digital asset markets. He emphasized that users will be able to manage their assets from their mobile phones using the same tools they use for traditional banking.
BBVA began its entry into the crypto services market in 2021, offering trading and storage to private banking clients in Switzerland. Two years later, it expanded similar capabilities to Turkey through Garanti BBVA, a bank that is under its ownership. However, the move into Spain marks the first instance where BBVA has made these services available to regular clients in its domestic market.

Francisco Maroto, who oversees the digital assets division at BBVA, confirmed that the company intends to expand its offerings in the coming months. Plans include support for stablecoins and tokenized assets linked to traditional investments such as bonds and funds. These products will be integrated into the same digital interface already used by clients.
With this launch, BBVA continues to adjust its services in response to changing financial behaviors. New crypto features are expected to operate as part of the bank's broader strategy to retain users who are increasingly engaging with the crypto markets. Whether demand for cryptocurrency will scale through banking channels in Spain remains unknown, but the infrastructure is already in place.


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