BBVA Receives Approval to Provide Bitcoin and Ether Trading Services

Banco Bilbao Vizcaya Argentaria (BBVA) has received approval from Spain's financial regulator to provide trading for bitcoin and ether. This follows the implementation of the Markets in Crypto-Assets (MiCA) regulation across the European Union.

• The approval concludes a multi-year effort by BBVA to offer digital asset exposure to clients.
• BBVA initially planned to launch crypto services in Switzerland due to its established regulatory framework.
• In January, BBVA began offering crypto trading in Turkey via a local subsidiary.
• Other European banks are also entering the crypto space; Deutsche Bank is developing an Ethereum rollup, and Société Générale is launching a euro stablecoin on the XRP Ledger.