Spanish Bank BBVA Gets Approval to Offer Bitcoin and Ethereum Trading

Highlights:

• BBVA gets approval to offer Bitcoin and Ether trading in Spain, starting with a small group of users. 
• Customers can manage crypto and banking in one app. 
• BBVA expands crypto services in Spain after its success in Switzerland.

Spanish financial giant Banco Bilbao Vizcaya Argentaria (BBVA) announced on March 10 that it had received approval from Spain’s securities regulator, the Comisión Nacional del Mercado de Valores (CNMV), to offer Bitcoin (BTC) and Ether (ETH) trading services in the country. The banking giant said the service will first be available to a small group of users before expanding to all private customers in the coming months.

Spain's second-largest bank BBVA has received approval from the Spanish financial regulator to offer BTC and ETH trading services to customers. In January this year, BBVA's Turkish crypto custody platform Garanti BBVA Kripto opened cryptocurrency trading services to the public.…

— Wu Blockchain (@WuBlockchain) March 10, 2025

The second-largest Spanish financial institution by volume of assets will let users buy, sell, and manage crypto through its app. Customers in Spain will be able to handle their crypto transactions along with their regular banking activities, the bank says. BBVA will use its own cryptographic key custody platform to keep full control of customer holdings without third-party involvement. 

The bank stated that the service will provide a secure and user-friendly experience, but it will not offer advisory services. Customers will have full control over their crypto investments and will need to take the initiative to trade independently. Gonzalo Rodríguez, Head of Retail Banking at BBVA Spain, said the bank aims to make crypto investing simple. It plans to offer a fully digital service that is easy to use and accessible directly from mobile phones.

He added:

“Our goal is to guide them as they explore this new segment of digital assets, backed by the solvency and security assurances provided by a bank like BBVA.”

BBVA Expands Crypto Services in Spain as MiCA Reshapes European Market

BBVA’s recent expansion aligns with the full implementation of the European Union’s Markets in Crypto-Assets Regulation (MiCA) at the end of 2024. MiCA establishes a comprehensive regulatory framework for cryptocurrencies and related services within the EU. Although MiCA is now active, it includes an 18-month transition period, giving crypto firms until July 2026 to fully comply with all requirements. This phased approach allows businesses time to adapt to the new regulations while maintaining their operations.

BBVA is expanding crypto services in Spain after success in Switzerland. In June 2021, BBVA Switzerland became the first branch to offer Bitcoin trading and storage for private banking clients. It later added Ether and USDC, attracting big investors. Spain’s growing crypto market also influenced BBVA’s decision to expand locally.

With its new crypto trading platform, BBVA will offer secure and regulated access to digital assets. As MiCA shapes crypto rules in Europe, BBVA’s move could increase investor confidence and drive more innovation in digital finance.

European Banks Embrace Crypto

BBVA is not the only bank expanding into crypto. Germany’s Deutsche Bank and Société Générale are also entering the digital asset market. Deutsche Bank is working with ZKsync to develop an Ethereum rollup and partnering with Taurus for crypto custody. Société Générale’s SG-FORGE plans to launch a euro stablecoin on the XRP Ledger. These moves show Europe’s growing interest in digital assets.