Ripple Expands Banking Partnership with BBVA for Digital Asset Custody
Ripple is enhancing its banking partnerships in Europe with a new agreement with BBVA in Spain. Key points include:
- BBVA will integrate Ripple’s digital asset custody technology into its retail service for trading and holding bitcoin and ether.
- The initiative aligns with the Market in Crypto Assets (MiCA) regulation, facilitating digital asset services across the EU.
- Cassie Craddock from Ripple noted that MiCA encourages banks to launch requested digital asset offerings.
- Ripple Custody emerged from the acquisition of Swiss crypto custody firm Metaco, which previously partnered with BBVA.
- Francisco Maroto from BBVA stated the integration provides a secure end-to-end custody service.
- This partnership builds on existing collaboration between Ripple and BBVA in Switzerland and Turkey.
- Ripple now holds over 60 regulatory licenses globally, expanding its presence in Europe's regulated digital asset market.
- The deal indicates a shift where traditional banks like BBVA prefer in-house services over third-party providers.