BBVA gets regulatory nod to offer Bitcoin and Ether trading in Spain

Banco Bilbao Vizcaya Argentaria, Spain's second-largest bank, has received approval from the country's securities regulator to offer Bitcoin and Ether trading services to its customers. The bank will allow users to buy, sell, and manage digital assets through its mobile app, using its own cryptographic key custody platform to maintain control over customer holdings. The rollout will initially be limited to a select group of users before expanding to all private customers in the coming months. BBVA's foray into crypto began in Switzerland in June 2021, where it launched Bitcoin custody and trading services for private banking clients. The bank's Swiss branch has since expanded its offerings to include Ether and the USDC stablecoin. BBVA's Turkish subsidiary also launched crypto trading services to the public in January 2025. The bank's expansion comes as the Markets in Crypto-Assets Regulation reached full implementation at the end of 2024, with crypto companies in the EU having until July 2026 to fully comply. Traditional finance firms and crypto companies are scrambling to secure MiCA licenses and integrate crypto services. Several companies, including Prime brokerage Hidden Road, Standard Chartered, and Boerse Stuttgart Digital Custody, have already received MiCA licenses. Crypto-native companies, such as OKX, Crypto.com, and HashKey, have also secured MiCA approval, with Bybit expressing intent to obtain a license next.