While most European banks continue to treat cryptocurrency with the enthusiasm typically reserved for tax audits, BBVA has launched Bitcoin and Ether trading services for retail customers in Spain—a move that transforms the venerable institution’s mobile app into something resembling a financial Swiss Army knife.
The July 2025 launch represents BBVA’s strategic expansion from private banking crypto services into retail territory, following regulatory approval from Spain’s National Securities Market Commission (CNMV) after disclosure filings in March. Unlike the typical banking approach of outsourcing crypto custody to third parties (presumably to maintain plausible deniability), BBVA handles custody entirely in-house, offering customers the ability to buy, sell, and hold Bitcoin and Ether within the bank’s secure environment.
BBVA boldly embraces in-house crypto custody while competitors maintain their traditional arms-length approach to digital assets.
Operating under the European Union’s Markets in Crypto-Assets (MiCA) regulation, BBVA’s service provides standardized legal requirements and investor protections across EU jurisdictions—a regulatory framework that distinguishes it from the Wild West atmosphere commonly associated with crypto trading. The bank significantly refrains from providing investment advice on cryptocurrencies, emphasizing customer-initiated transactions only, which seems prudent given crypto’s tendency toward spectacular volatility.
Spain becomes BBVA’s third country for crypto services, following Switzerland in 2021 and Turkey in 2023, where the bank’s Garanti BBVA subsidiary offers a broader crypto range including Solana, XRP, and AVAX. This geographic expansion strategy suggests BBVA recognizes that digital assets, despite their mercurial nature, represent more than a passing fad. The move aligns with broader trends toward mainstream integration as cryptocurrency markets advance through institutional adoption and regulatory acceptance.
The retail focus marks a significant departure from BBVA’s previous private banking crypto offerings, with no reported minimum deposit requirement—democratizing access to digital assets for everyday banking customers. The initiative places BBVA among international banks increasingly embracing digital asset services, joining institutions like JPMorgan Chase and Standard Chartered in recognizing growing customer demand for cryptocurrency access. The bank’s extensive experience in blockchain technology spans over a decade, providing a foundation for this retail expansion.
Gonzalo Rodríguez, Head of Retail Banking Spain, emphasizes ease of access and digital convenience, while Francisco Maroto, Head of Digital Assets, announced plans to expand offerings to include additional cryptocurrencies, stablecoins, and tokenized real-world assets such as bonds and ETFs.
