BBVA Partners with SGX FX to Offer Retail Crypto Trading
Spanish bank BBVA partners with Singapore's SGX FX to enable retail customers to trade digital assets directly through its platforms.
The integration, a first in the European market, initially supports bitcoin and ether, offering 24/7 trading using BBVA's existing foreign exchange framework.
SGX has experience with digital assets and blockchain technology, while BBVA is proactive in crypto adoption.
SGX FX provides banks with tools for aggregation, pricing, distribution, and risk management across global data centers.
According to Vinay Trivedi, COO of SGX FX Sell-side Solutions, their platform allows banks like BBVA to integrate digital assets into their offerings without major infrastructure changes.
The partnership aligns with the European Union’s Markets in Crypto-Assets (MiCA) regulation, allowing highly regulated firms to offer crypto services.
Luis Martins, Global Head of Macro Trading at BBVA, highlights the growing significance of digital assets in global finance and customer demand for trusted trading systems.
