Ripple is expanding its banking associations in Europe through a new agreement with BBVA in Spain.
The agreement will see the BBVA Integrate Ripple’s digital asset custody technology in its recently launched retail service and maintenance of Bitcoin and Ether.
The measure occurs when European banks adapt to the market in cryptographic assets. (Mica) Regulation, which establishes a framework to offer digital asset services throughout the EU.
“Now that Mica is established, the banks of the region are emboldened to launch the offers of digital assets that their clients request,” said Cassie Craddock, managing director of Ripple for Europe.
Ripple Custody was born from the acquisition of Blockchain’s firm of the Swiss Cryptography Specialist Metaco, which BBVA had registered.
Francisco Maroto, head of BBVA digital assets, said that integration allows the bank to “directly provide a end -to -end custody service” with security clients waiting for an important financial institution.
The Association extends the previous work of Ripple with BBVA, which already uses its custody technology in Switzerland and Türkiye. For Ripple, Spain represents another support point in the European digital asset market in Europe. Ripple has more than 60 regulatory licenses worldwide.
The agreement indicates a gradual change in how traditional banks approach cryptography. Instead of trusting third party suppliers, institutions such as BBVA are choosing to build internal services using established infrastructure suppliers.
