Spain's Second Largest Bank Launches Crypto Services

by in Cryptocurrency News

BBVA launches crypto services

Banco Bilbao Vizcaya Argentaria (BBVA), Madrid-based multinational financial services organization plans to launch cryptocurrency trading and custody services in the upcoming months. BBVA will reportedly deliver services in Switzerland and is awaiting regulatory approval.

The team informed that there are some difficulties in complying with regulatory requirements, so the launch will not take place in December. BBVA services are supposed to go live next month. BBVA is reportedly working on integrating services with Swiss fintech company Avaloq and Swiss crypto custody service Metaco.

Last month Gazprombank (Switzerland) Ltd, a subsidiary of Gazprombank, after receiving approval from Swiss regulators, launched its crypto service in collaboration with Avaloq and Metaco. It is also known that Standard Chartered is working with Metaco on a crypto storage and security service for institutional investors. It's not the first time BBVA has been engaged in crypto innovations. It's worth mentioning that the company was among the first ones to link public and private blockchains in a live transaction in July 2018.

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The latest move of the bank proves again its positive attitude towards crypto.