The BBVA Bank has launched a new service that allows its private clients in Spain to buy, sell and store the two main cryptoactives, Bitcoin (BTC) and Ether (ETH). This functionality is integrated directly into its mobile app, as announced today.
The service, which It is now available for all its usershas been gradually implemented in recent weeks, after the registration of notification in the National Securities Market Commission (CNMV). With this launch, BBVA strengthens its position in the cryptocurrency sector.
Access to the service is completely self -managed and must be requested by client initiative in the mobile app. In it releaseThe company states that it will not offer advice on cryptoactive, and clarifies that its intention is to guarantee a safe and simple experience within a reliable environment.
From BBVA they have expressed that the measure is in line with the European regulation on cryptoactive (MICA) markets, which regulates the supply of services related to cryptocurrencies in the European Union.
With this movement, which arrives while Bitcoin approaches at its historical maximum price about $ 112,000, Spain becomes the third market where BBVA strengthens its offer in cryptoactivebeing the previous Switzerland and Türkiye.
“We continue to promote the digital asset business, covering not only cryptocurrencies and stablecoins, but also traditional assets in tokenized format,” said Francisco Maroto, responsible for defital currencies within the organization.
The initiative takes place after, as Cryptonoticias reported, BBVA communicated in March that the National Securities Market Commission (CNMV) gave green light to its purchase and sale service of Bitcoin and Ether in Spain. Previously, in 2020, the bank had started a pilot project in Switzerland that faced various regulatory obstacles, which took its launch.
It is worth mentioning that internal sources of other banking entities consulted by cryptootics indicated that BBVA launch generates pressure in the financial sector to accelerate the development of its own solutions In cryptocurrencies.
These actors recognize that the measure is promoting a career for not being lagging in an industry that gains more relevance and demand by customers.
