• BBVA customers in Spain will soon be able to trade Bitcoin (BTC) and Ethereum (ETH).
• The bank will roll out the crypto trading services in phases.
• First, the bank will allow a select group of customers to test the services before expanding it to retail customers.

Spain’s Banco Bilbao Vizcaya Argentaria (BBVA), the country’s second-largest bank, has received regulatory approval from the Comisión Nacional del Mercado de Valores (CNMV) to offer Bitcoin (BTC) and Ethereum (ETH) trading services.

Following the approval by the securities regulator, BBVA announced that its clients will soon be able to buy, sell, and manage BTC and ETH directly through its mobile banking app, a move that underscores the growing convergence of legacy banking and digital assets.

This development positions BBVA as a trailblazer among European banks, capitalizing on the increasing demand for crypto-related services. With Bitcoin (BTC) trading at approximately $82,808 and Ethereum (ETH) at $2,118, the bank aims to tap into a market that has seen explosive growth and institutional interest.

Notably, BBVA’s decision reflects a broader trend of traditional financial institutions adapting to the evolving preferences of tech-savvy customers, many of whom view cryptocurrencies as both an investment opportunity and a hedge against economic uncertainty.

A phased rollout approach

BBVA will roll out its crypto trading in phases. Initially, the service will be available to a select group of users, allowing the bank to test and refine its platform before a wider rollout.

Afterwards, the lender will gradually expand access to all private banking customers across Spain.

This cautious yet deliberate strategy highlights BBVA’s commitment to ensuring a seamless and secure experience for its clients, leveraging its own cryptographic key custody platform to maintain full control over digital asset holdings without relying on third-party providers.

The bank’s proprietary custody solution is a key differentiator. By keeping customer assets in-house, BBVA aims to enhance security and trust—crucial factors in a sector often plagued by concerns over hacks and mismanagement. This move also aligns with the bank’s long-standing emphasis on technological innovation, positioning it as a leader in the digital transformation of finance.

Building on the rising crypto adoption trends

BBVA’s crypto journey is not a sudden leap but a calculated expansion of efforts that began years ago. In June 2021, the bank launched Bitcoin custody and trading services for private banking clients in Switzerland, where regulatory clarity provided an early foothold.

Since then, BBVA’s Swiss branch has broadened its offerings to include ETH and the USDC stablecoin after partnering with Ripple’s Metaco, catering to a sophisticated clientele comfortable with digital assets.

More recently, in January 2025, BBVA’s Turkish subsidiary, Garanti BBVA Kripto, introduced crypto trading services to the public, further solidifying the bank’s global footprint in this space.

The approval in Spain builds on these successes, adapting lessons learned from Switzerland and Turkey to meet the unique needs of the Spanish market.

With each step, BBVA is demonstrating a strategic vision to integrate cryptocurrencies into its core offerings, aligning with shifting regulatory and consumer landscapes.

Notably, the timing of BBVA’s Spanish rollout coincides with the full implementation of the European Union’s Markets in Crypto-Assets Regulation (MiCA), which took effect at the end of 2024. MiCA establishes a harmonized framework for crypto services across the EU, providing banks and firms with the legal clarity needed to operate confidently.

Under this regulation, companies have until July 2026 to achieve full compliance during an 18-month transitional phase, giving BBVA ample time to refine its operations.

Following earlier reports that BBVA — one of the biggest banks in Spain, with nearly $840 billion in assets, has launched bitcoin trading services, it has now added ether to its investment platform. The development was officially announced in a blog post by the Spanish bank on Monday.

BBVA Now Allows Ether Operations

Owing to the fact that Switzerland has relatively clarified rules and regulations around crypto, as laid down by the country’s Financial Market Supervisory Authority (FINMA), BBVA Switzerland began providing crypto asset services to its customers since last June. However, the Swiss franchise has now expanded its cryptocurrency custody and trading service, by adding ether to its investment portfolio.

Developed by Ethereum, ether is only the second-largest cryptocurrency in the world after Bitcoin, and with its addition, BBVA Switzerland’s initial offering may now be complete.

Invariably, this simply means that all of the bank’s clientele with a new generation account can manage both Bitcoin and Ether. Customers can manage both cryptocurrencies from the BBVA app, alongside their other traditional investments, and will also be able to easily convert the assets to any fiat currency of their choosing.

Meanwhile, the CEO of BBVA Switzerland Alfonso Gómez has shared the reasons behind adding ether to the bank’s crypto asset ‘wallet’. He says it’s a fact that Bitcoin and Ethereum are the most popular protocols which spark the most interest in investors (whether individuals or institutional). The CEO then added that the two assets also provide investors with a guarantee to remain compliant with regulations.

A Major Step Towards Broader Expansion

Recall that this is not the first time BBVA is foraying into the crypto sector. In July 2018, the bank became one of the pioneering financial institutions to combine private and public blockchains in a live transaction.

And while BBVA has always nursed the ambition of spreading its crypto tentacles across Latin American countries, it has also been looking at Europe and Turkey. But there is a hitch. Many European countries have debatable regulations, and sometimes absolutely bogus rules with regards to cryptocurrencies.

All thanks to the very advanced blockchain ecosystem in Switzerland however, and its relatively clear regulation regarding crypto as well, BBVA is now able to offer this new service, and with the move, positioning itself as a front-runner in the adoption of blockchain technology.

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