Spanish BBVA customers will soon be able to trade Bitcoin (BTC) and Ethereum (ETH). Banks will develop crypto trading services in stages. First, banks allow some customer groups to test their services before expanding to retail customers.
Spain’s second largest bank, Banco Bilbao Vizcaya Argentalia (BBVA), has received regulatory approval from Comisión Nacional Del Mercado De Valores (CNMV) to provide Bitcoin (BTC) and Ethereum (ETH) trading services.
Following approval from the securities regulator, the BBVA announced that it will be able to purchase, sell and manage BTC and ETH directly via a mobile banking app.
The development positions BBVA as a pioneer in European banks and takes advantage of the growing demand for crypto-related services. With Bitcoin (BTC) trading for around $82,808 and $2,118 at Ethereum (ETH), banks are aiming to capitalize on markets that have found explosive growth and institutional interest.
In particular, the BBVA decision reflects the broader trends of traditional financial institutions adapting to the evolving preferences of tech-savvy customers.
A step-by-step rollout approach
BBVA will develop crypto transactions in stages. Initially, the service will be available to select groups of users, allowing banks to test and refine the platform before a wider rollout.
Lenders will then gradually increase access to customers of all private banks across Spain.
This careful yet intentional strategy underscores BBVA’s commitment to ensuring a seamless and secure experience for clients, leveraging its own cryptographic key custody platform for full control of digital asset holdings without relying on third-party providers.
Banks’ proprietary custody solutions are a key differentiator. BBVA aims to enhance security and trust by retaining customer assets within the company. This is a key factor in the sector that is plagued by concerns about hacking and mismanagement. The move also coincides with years of emphasis on banks’ innovation, positioning it as a leader in digital transformation in finance.
Based on rising crypto adoption trends
BBVA’s Crypto Journey is not a sudden leap, but a calculated expansion of efforts that began a few years ago. In June 2021, the bank launched Bitcoin custody and trading services for Swiss private banking clients, with clarity of regulations providing an early footing.
Since then, BBVA’s Swiss branch has partnered with Ripple’s Metaco and has offered it to include ETH and USDC Stablecoin, serving sophisticated customers who are comfortable with their digital assets.
Recently, in January 2025, Garanti Bbva Kripto, a Turkish subsidiary of BBVA, introduced Crypto Trading Services to the public, further strengthening the global footprint of banks in this sector.
The approval in Spain is based on these successes and employs lessons learned from Switzerland and Türkiye to meet the unique needs of the Spanish market.
At each step, BBVA demonstrates its strategic vision for integrating cryptocurrency into its core products, changing its regulatory and consumer landscape.
In particular, the timing of the BBVA’s Spanish deployment coincides with the full implementation of the European Union market in the Crypto Federal Market (MICA) that took effect at the end of 2024. MICA must establish a harmonious framework for crypto services across the EU and provide legal clarity to banks and businesses.
Under these regulations, businesses must achieve full compliance during the 18-month transition period by July 2026, giving the BBVA plenty of time to improve its operations.
