BBVA SA, Spain’s second-largest bank, has secured regulatory approval to provide cryptocurrency custody and execution services to retail clients in Spain.
The approval, granted by Spain’s National Securities Market Commission (CNMV), marks a significant step for the bank as it expands its crypto offerings.
The Bilbao-based lender announced plans to introduce Bitcoin and Ethereum trading capabilities through its mobile app. Initially, the service will be available to a select group of customers before gradually extending to all private banking clients in Spain over the coming months.
BBVA has been active in the cryptocurrency space, offering similar services in Switzerland since 2021 and more recently in Turkey through its subsidiary, Garanti BBVA Kripto, which launched crypto trading services in January 2025.
Banks Increasingly Embrace Digital Assets
BBVA’s approval follows its compliance with the European Union’s Markets in Crypto-Assets Regulation (MiCA), which establishes a legal framework for digital assets in the bloc.
While the new service is expected to enhance accessibility to cryptocurrencies, it remains limited to private banking clients who meet the bank’s wealth criteria.
The growing interest in digital assets among banks is evident beyond Spain. In January, Italy’s largest banking group, Intesa Sanpaolo SpA, made its first direct Bitcoin purchase, acquiring approximately €1 million ($1.1 million) worth of the cryptocurrency.
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