BBVA Bank received permission to trade Bitcoin and Ether in Spain

On March 10, 2025, Spain’s second largest bank, Banco Bilbao Vizcaya Argentaria (BBVA), received approval from the Spanish securities regulator (CNMV) to provide Bitcoin (BTCUSD) and Ether (ETHUSD) trading services to its clients. This initiative marks the next stage in the integration of cryptocurrencies into traditional financial services by BBVA, which began back in 2021.

Details of the launch of Bitcoin trading in Spain

BBVA will offer customers the ability to buy, sell and manage digital assets through a mobile application. To ensure security, the bank will use its own platform for storing cryptographic keys, which excludes the participation of third parties. In the first stage, the services will be available to a limited group of users, and in the coming months access will be available to all private clients throughout Spain.

I think this approach underscores BBVA’s commitment to complete autonomy and security in managing its clients’ crypto assets.

History of BBVA in the cryptosphere

The bank’s journey into the world of cryptocurrencies began in Switzerland, where in June 2021 BBVA launched Bitcoin storage and trading services for private banking clients. The Swiss unit later added support for Ether and the USDC stablecoin. In January 2025, the Turkish branch of Garanti BBVA Kripto also launched cryptocurrency trading services to a wider audience.

Now Spain is joining this trend, reflecting BBVA’s strategy to expand crypto services in accordance with European regulations.

Regulatory context and MiCA

The launch of services in Spain coincides with the full entry into force of the Markets in Crypto-Assets (MiCA) regulation at the end of 2024. Although companies in the EU have a transition period until July 2026 to fully comply, BBVA is already actively adapting to the new standards. I believe this proactive approach strengthens the bank’s position in competition with other traditional financial institutions and crypto companies seeking MiCA licenses.

News highlights

• BBVA received CNMV permission to trade Bitcoin and Ether in Spain from March 10, 2025.
• Services will be available through a mobile application with its own key storage platform.
• Initially, access will be given to a limited group, then to all private clients.
• BBVA already provides crypto services in Switzerland and Turkey, expanding its presence in Europe.

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