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

Banco Bilbao Vizcaya Argentaria (BBVA) announced connected March 10 that it had received the motion from Spain’s securities regulator, the Comisión Nacional del Mercado de Valores (CNMV), to connection Bitcoin (BTC) and Ether (ETH) trading services to its customers. 

Spain’s second-largest bank’s crypto offerings successful Spain volition alteration users to buy, merchantability and negociate integer assets done its mobile app. The lender said it volition usage its ain cryptographic cardinal custody level to support afloat power implicit lawsuit holdings without third-party involvement. 

Initially, the rollout volition beryllium constricted to a prime radical of users earlier gradually expanding to each backstage customers crossed the Iberian federation successful the coming months.

Related: Bitcoin and Ether tin ‘greatly improve’ portfolio performance: BBVA

BBVA’s crypto travel began successful Switzerland

BBVA’s foray into crypto began successful Switzerland, wherever it launched Bitcoin custody and trading services for backstage banking clients successful June 2021. The Swiss subdivision has since broadened its offerings to see Ether and the USDC (USDC) stablecoin.

In January 2025, BBVA’s Turkish subsidiary Garanti BBVA Kripto launched its crypto trading services to the public. With Spain present entering the fold, BBVA is broadening its crypto services successful enactment with evolving European regulations.

TradFi and crypto firms scramble for MiCA permit

BBVA’s enlargement comes arsenic the Markets successful Crypto-Assets Regulation (MiCA) reached afloat implementation astatine the extremity of 2024. While the model is present successful effect, crypto companies successful the EU person until July 2026 to afloat comply with its requirements nether an 18-month transitional phase.

The gramps period, oregon transitional phase, for crypto firms to go MiCA-compliant lasts until July 2026. Source: ESMA

Since MiCA’s rollout, accepted concern firms person accelerated their efforts to unafraid MiCA licenses and integrate crypto services. Prime brokerage Hidden Road obtained its MiCA licence successful the Netherlands connected Dec. 30, 2024. Standard Chartered followed connected Jan. 9, receiving support successful Luxembourg, portion Boerse Stuttgart Digital Custody became Germany’s archetypal MiCA-licensed crypto work provider connected Jan. 17.

Crypto-native companies are besides adjusting to the caller regulatory landscape. In January 2025, major exchanges OKX, Crypto.com and HashKey each secured MiCA approval. Bybit, which suffered the largest hack successful crypto history, was precocious removed from France’s blacklist and has expressed intent to get a MiCA licence next.

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