One of Spain’s Largest Banks Launches Crypto Service for Retail Clients

Banco Bilbao Vizcaya Argentaria (BBVA) enabled retail clients in Spain to buy, sell, and hold BTC and ETH directly through its mobile app.

BBVA, one of the largest banks in Spain, launched a crypto custody and trading service for its retail customers within its own mobile application, according to Cinco Días.

The new service allows BBVA’s clients in Spain to buy, sell, and store BTC and ETH without using third-party platforms or custodians. All transactions are initiated by users themselves, and the bank doesn’t provide investment advice.

The service became available after BBVA received a license in March 2025 from the Spanish National Securities Market Commission (CNMV) to operate with digital assets. The service complies with the EU Markets in Crypto-Assets (MiCA) regulation.

BBVA uses its own custody infrastructure, maintaining full control over client asset security. Gonzalo Rodríguez, Head of BBVA’s Retail Business in Spain, said the bank aims to simplify retail customers’ access to crypto investments. Francisco Maroto, Head of Blockchain and Digital Assets at BBVA, noted that additional cryptocurrencies, stablecoins, and tokenized assets will be added to the service in the future.

BBVA is the first TradFi institution in Spain to officially offer crypto services to retail clients. The initiative isn’t new for the bank, similar services were launched in Switzerland in 2021 and Turkey in 2023.

BBVA is among the traditional banking institutions actively expanding its presence in the stablecoin market, planning to compete with Tether. The bank is also an issuer of a local euro-backed stablecoin approved by Banco de España.