The Spanish financial giant Banco Bilbao Vizcaya Argentaria (BBVA) has received the approval of the country’s financial regulator to offer the Bitcoin trade (BTC) and Ether (ETH) to its customers, according to a Reuters report.
Approval occurs when markets in the regulation of cryptographic assets (MICA) have a total effect throughout the European Union. This approval for BBVA marks the conclusion of a several -year process for the Spanish lender to allow their clients to obtain exposure to digital assets.
In 2020, Coindesk reported that BBVA planned to submerge the fingers of the feet in the sector, waiting for regulatory approval because Mica was not yet in its place.
BBVA initially planned to launch its cryptographic services from Switzerland instead of Spain or other EU countries because Switzerland already had a clear regulatory framework for digital assets under the authority of financial market supervision (Finma).
In January, BBVA launched Crypto Trading in Türkiye through a local subsidiary.
BBVA is not the first European bank to enter the cryptography, with the Deutsche Bank of Germany developing an Ethereum roll with Zksync and offering custody with Taurus, while SG-Forge of Société Générara is launching a Euro-Stablingin in the Ledger XRP, Coindesk said previously.
