BBVA subsidiary launches cryptocurrency mobile wallet in Türkiye – DiarioBitcoin
By Hannah Perez
Garanti BBVA, a subsidiary of the Spanish bank BBVA, enabled a cryptocurrency app for its clients in Türkiye. The platform offers Bitcoin, Ethereum, and USDC trading and custody, with more options to come soon.
***
- Garanti BBVA cryptocurrency app now available for users in Türkiye
- Garanti BBVA is the Turkish subsidiary of the second largest bank in Spain, BBVA
- The platform offers BTC, ETH, and USDC trading and custody, with more options to come
A subsidiary of a Spanish bank BBVA is betting on offering cryptocurrency services in Türkiye.
Guarantee BBVA, a Turkish financial services company that is majority owned by BBVAhas launched a new cryptocurrency wallet to offer custody services to all its users in Türkiye.
In a statement this Tuesday, the company announced the public launch of Guarantee BBVA Cryptoits new mobile application for the management and custody of cryptocurrencies that allows clients to transfer and store assets such as Bitcoin (BTC), Ethereum (ETH) and the stablecoin USD Coin (USDC) directly from their cell phones.
The launch comes after the success of a pilot study of the new service, highlighted the executive vice president of BBVA GuaranteeÇağrı Süzer, as well as a previous beta release of the app last year.
“The Garanti BBVA Crypto app has been available to a limited number of customers in its beta version and It is now available for all customers“, Süzer said in the note. This marks the first time in Turkey that a bank subsidiary has developed and implemented a cryptocurrency wallet with its own resources, the company added.
Foray into cryptocurrencies
The Turkish subsidiary of BBVA, the second largest bank in Spain, began to venture into the world of digital currencies in the middle of last year, when it announced the creation of Garanti Digital Assetsa new company focused on cryptocurrency services that depends on the subsidiary Garanti BBVA Financial Technologies.
At that moment, Suzerwho also appears as president of the board of directors of Garanti BBVA Digital Assetsassured that the bet was produced in response to the growing demand of local clients and with the aim of taking advantage of emerging opportunities and being at the forefront of new financial technologies.
“Given the interest of our clients in digital assets, we have made the decision to create a team specialized in developing the most advanced blockchain technologies.“he said in a statement in August.
BBVA Guarantee plans to expand its cryptocurrency offering
The manager pointed out the fact that Turkey ranks as the fourth country in the world that trades the most cryptocurrencies, behind the United States, India and the United Kingdom, citing a report by the blockchain analysis firm. Chainalysis.
The company has announced that it has plans to expand the cryptocurrency offering available on its platform Guarantee BBVA Crypto, which also offers digital currency trading. Last week, the institution announced the incorporation of AVAX, the native cryptocurrency of Avalanchefor marketing within the application.
“While we initially started providing services for the BTC, ETH and USDC cryptocurrencies, we will continue to grow adding to our diversity of assets and our service infrastructure in the future”Süzer said in today’s note.
“In the future, we will continue to grow in this area, further developing our service infrastructure and expanding our offer of cryptoassets.”, repairs a previous statement.
BBVA has been offering cryptocurrency trading and custody services to its clients in Switzerland for years. In 2021, the Spanish bank became a pioneer in the European Union for incorporating Bitcoin to its financial products and has since been deepening its strategy.
Article by Hannah Estefanía Pérez / DailyBitcoin
Picture of Unsplash
WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.
