BBVA will allow trading of $ETH and $BTC
Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA) will let its customers trade Bitcoin and Ethereum. Reuters reported this, citing an official statement. According to journalists, the bank has already received approval from the national securities regulator to provide BTC and ETH trading services in Spain.
This confirms the plans of Spain’s Ministry of Finance to increase control over cryptocurrency monitoring. The goal is to allow authorities to seize digital assets to cover tax debts.
In October 2024, BBVA announced plans to launch its own stablecoin in partnership with Visa in 2025. The asset will be used for exchange settlements.
Also, in early January 2025, Standard Chartered Bank received a license to provide digital asset custody services in Luxembourg.
It is still unknown when BBVA will officially start this trading. It is also unclear how it will affect Spanish crypto holders. But the news has already created a lot of buzz.
We will keep an eye on updates, as other banks in Spain and beyond might follow this initiative.
