BBVA selects Ripple to guard the cryptocurrencies of its customers in Spain

By Hannah Pérez

BBVA expands its crypto offer in Spain with the support of Ripple. Both entities expand their collaboration so that the largest Bank of Spain takes advantage of Ripple’s custody technology as part of its crypto trade service.

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• BBVA expands its crypto offer in Spain with the support of Ripple.
• They expand their collaboration so that the largest Bank of Spain takes advantage of Ripple’s custody technology.
• The measure will support the recently launched BBVA cryptocurrency trade.

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Ripplea digital asset infrastructure provider for financial institutions, has announced a new agreement with BBVAthe largest bank in Spain, to provide its technology of custody of digital assets to its Spanish clients.

This agreement, announced on Tuesday in a press release, allows BBVA leverage Ripple Custodya cryptocurrency autocustody technology, to provide a scalable and safe custody service to its retail customers in Spain, all directly from its mobile bank application, supporting the crypto trade service recently launched by the bank.

BBVA officially premiered his trade service of Bitcoin (BTC) and Ethereum (ETH) In Spain in July, after receiving the authorization from the National Securities Market Commission (CNMV) under the framework of the Cryptactive Markets Regulation (MICA) of the European Union, which entered into force in December 2024. This regulatory framework has encouraged European banks to respond to the growing demand of their clients for digital asset services, guaranteeing safety and protection of the investor.

The recent initiative reinforces the long -standing collaboration between Ripple and BBVAwhich already includes similar projects in Switzerland and Türkiye.

Ripple Custody: Security and Institutional Compliance

Ripple Custodythe institutional degree custody solution of Rippleallows a BBVA Offer a scalable and safe service for the management of tokenized assets, including cryptocurrencies.

According to Cassie Craddock, general director of Ripple For Europe, “Mica regulation has given confidence to the region’s banks to launch offers of digital assets that their clients demand”Craddock stressed that BBVArecognized for its innovation, you are using “The safer and more compliance with the market”

For his part, Francisco Maroto, head of BBVA digital assets, said: “The Ripple custody solution allows us to take advantage of a proven and reliable technology that meets the highest safety and operation standards, allowing BBVA to offer a comprehensive custody service to its customers“.

This approach ensures that users can buy, sell and guard BTC and ETH directly from the Bank’s mobile applicationwith the guarantee of a renowned financial institution.

One more step in the crypto expansion of BBVA

The recent launch in Spain makes this country the third where BBVA It offers cryptocurrency services, after the successful deployment in Switzerland in 2021 and Türkiye in 2023. In Switzerland, BBVA He integrated services with the Stablecoin USDC, while in Türkiye he collaborated with the Spanish exchange Bit2me to offer digital currency trade.

In Spain, the service has been implemented in a staggered way since July, with an approach to digital accessibility.

Customers must activate biometry on their mobile devices to ensure safe transactions, and BBVA It charges a 1.49% commission for each purchase or sale operation, while the transfer of funds outside the platform has a cost of 4%. Custody, meanwhile, is free.

Ripple and BBVA add years of experience and innovation

Ripplewith more than ten years of experience in the sector of digital assets and more than 60 regulatory licenses globally, it is positioned as a strategic partner for financial institutions that seek to integrate cryptocurrencies safely and in accordance with the regulations.

Your technology takes advantage of XRP Ledger and the Token XRP, designed for fast, low and highly scalable transactions. In addition to custody, Ripple offers payment solutions and Stablecoinsconsolidating its role in the transformation of the global financial ecosystem.

For its part, BBVAfounded in 1857, is a client -centered global financial group, with a strong presence in Spain, Mexico, South America, Türkiye and the United States. His commitment to digitalization and innovation has led him to explore technology Blockchain During the last decade, culminating in this new supply of cryptocurrencies in Spain.

“Our goal is to accompany our clients in the exploration of digital assets with the solvency and security offered by a bank like BBVA”Said Maroto.

This agreement not only strengthens the position of BBVA as leader in the adoption of cryptocurrencies in Europe, but also consolidated Ripple as a key infrastructure provider for the financial sector. With the support of a solid regulatory framework such as Mica, both actors are prepared to lead the evolution of the digital asset market in the region.

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Article written with the help of AI, edited by Diariobitcoin

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