Following the full implementation of the EU's "Markets in Crypto-Assets Regulation" (MiCA), Spanish financial giant BBVA has received regulatory approval to officially enter the cryptocurrency trading market. The bank can now offer clients Bitcoin (BTC) and Ethereum (ETH) trading services, further advancing the integration of European banking with digital asset markets.
BBVA Becomes the Latest European Bank to Enter Crypto Under MiCA Framework
Reuters reports that Spain's second-largest bank, Banco Bilbao Vizcaya Argentaria (BBVA), secured approval from the country's financial regulators to provide BTC and ETH trading services to customers.
This milestone marks the culmination of BBVA's multi-year efforts to expand into digital assets, aligning with the EU MiCA legislation now in full effect.
Years of Preparation Lead to Regulatory Green Light
As early as 2020, BBVA began planning its foray into cryptocurrencies. However, due to the lack of clear EU regulatory frameworks at the time, the bank initially launched crypto services in Switzerland, where guidelines were well-defined, while awaiting the right moment to re-enter the Spanish market.
In October 2023, BBVA revealed a Visa-partnered sandbox project to help financial institutions issue euro-backed stablecoins, targeting a 2025 prototype for tokenized asset trading and settlements.
By January 2024, BBVA’s Turkish subsidiary Garanti BBVA rolled out crypto trading services ahead of its domestic approval. Today’s regulatory nod solidifies BBVA’s move to integrate crypto trading into its core offerings, leveraging AI-driven efficiency for seamless operations.
With the Digital Euro nearing launch, BBVA is poised to capitalize on legislative tailwinds to expand its market share.
BBVA Joins European Banking Crypto Race
BBVA isn’t the first European bank to embrace crypto:
- Deutsche Bank partnered with ZKsync for Ethereum scaling solutions and offers custody services via Taurus.
- Société Générale’s SG-FORGE launched its EURCV stablecoin on Bitstamp.
As MiCA takes full effect across the EU, more banks are expected to follow BBVA’s lead, accelerating traditional finance and crypto convergence.
FAQs
What services will BBVA offer?
BBVA will provide Bitcoin (BTC) and Ethereum (ETH) trading to its clients in Spain.
How does MiCA impact BBVA’s crypto rollout?
MiCA’s standardized regulations enabled BBVA to secure approval, ensuring compliance and market integration.
Which other European banks offer crypto services?
Deutsche Bank and Société Générale are key players, with stablecoins and custody solutions already live.
👉 Explore crypto trading with BBVA’s new services
Risk Disclosure: Crypto investments carry high risks due to extreme volatility. Capital loss is possible. Assess risks carefully.