BBVA has launched cryptocurrency trading and custody services for retail customers in Spain, marking the first time a traditional financial institution in the country has offered digital asset services to everyday consumers. The service, which went live in July 2025 following regulatory approval from Spain’s National Securities Market Commission (CNMV) in March, enables customers to buy, sell, and hold Bitcoin and Ether directly through BBVA‘s mobile banking app—a seamless integration that eliminates the need for separate crypto exchange accounts.
BBVA becomes Spain’s first traditional bank to offer retail cryptocurrency trading directly through its mobile banking app.
The launch operates within the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework, which governs digital asset services across member states with investor protection mandates. BBVA complies with MiCA requirements while explicitly avoiding investment advice, leaving customers to bear sole responsibility for their trading decisions and risk management—a prudent legal stance that shifts liability squarely onto retail investors maneuvering volatile digital markets.
Initially limited to Bitcoin and Ether, BBVA plans to expand offerings to include additional cryptocurrencies, stablecoins, and tokenized assets. The bank’s previous launches in Switzerland (2021) and Turkey (2023) through subsidiaries featured broader asset selections including USDC, Solana, XRP, and Avalanche, suggesting Spain’s conservative start reflects regulatory caution rather than technical limitations. Future expansion could potentially include crypto staking services, which would allow customers to earn passive income by supporting network operations with their digital assets.
BBVA’s proprietary custody infrastructure maintains full control over client asset security, distinguishing it from competitors relying on third-party custodians. This autonomous approach, backed by traditional banking strength and regulatory oversight, provides transaction execution solely through the BBVA app—a strategic decision that keeps customer relationships and assets entirely within the bank’s ecosystem.
The Spanish launch represents BBVA’s third crypto market entry, following Switzerland’s private banking clients (with $10,000 minimum deposits) and Turkey’s Garanti BBVA retail expansion. This progression signals BBVA’s commitment to growing retail crypto adoption under regulated frameworks in key European markets. Over eight institutions have applied for virtual asset service provider registration in Spain, reflecting the competitive landscape as traditional banks rush to capture market share in the emerging digital asset space.
Beyond trading services, BBVA has ventured into stablecoin issuance, especially launching a euro-backed stablecoin approved by Banco de España. This positions the bank to compete directly with established players like Tether in the stablecoin market, representing a significant expansion of traditional banking into previously uncharted digital territory.
