- Ripple and BBVA expand their previous collaborations in Switzerland and Turkey.
- BBVA launches retail crypto custody for BTC and ETH using Ripple.
- MiCA regulation gives banks the confidence to expand digital asset services.
Ripple has announced that Spain’s second-largest bank, BBVA, will integrate its institutional-grade custody technology into the bank’s retail cryptocurrency platform in Spain.
This move marks a new phase of broader digital asset adoption in Europe, as regional banks respond to the regulatory clarity provided by the European Union’s Markets in Crypto-Assets (MiCA) framework.
Ripple custody goes live in Spain
The agreement between Ripple and BBVA enables BBVA customers to trade and securely hold bitcoin and ether directly within the bank’s mobile app.
By using Ripple Custody, BBVA can manage cryptocurrencies and tokenized assets without relying on external intermediaries, offering customers a more seamless and reliable experience.
The Spanish lender disclosed the new offering to the National Securities Market Commission (CNMV), underscoring its commitment to transparency and regulatory compliance.
With this launch, BBVA becomes one of the first major European banks to make retail trading and custody services for cryptocurrencies available under a fully regulated framework.
Building on past collaborations
The new agreement is not the first partnership between the two companies. Ripple and BBVA have previously collaborated in Switzerland and Turkey, where custody technology was implemented to support similar initiatives.
BBVA’s Swiss unit had already worked with Metaco, the digital asset company that Ripple acquired in 2023, to develop its custody operations.
The partners also tested real-time cross-border payments in earlier pilot projects, indicating ambitions beyond custody alone.
Last month, reports indicated that BBVA had taken on a role as one of the few independent custodians serving customers of Binance, the world’s largest cryptocurrency exchange.
European banks can offer crypto services under MiCA
BBVA’s move into Spain reflects a broader shift within Europe’s financial industry.
The implementation of MiCA has given traditional banks a clear path to enter the cryptocurrency sector while ensuring customers remain protected.
Executives at Ripple have pointed to MiCA as a turning point for the European banking sector.
Cassie Craddock, Ripple’s general manager for Europe, said the regulation provides banks with the confidence to offer digital asset services that customers have long demanded.
By adopting Ripple’s custody solution, BBVA can scale its offering to meet growing demand without compromising compliance or security.
For Ripple, the Spain agreement adds another milestone to its strategy of supporting regulated financial institutions across Europe.
BBVA echoed that sentiment, emphasizing that customers can now explore digital assets while keeping the protections expected from a global bank.
Francisco Maroto, head of the bank’s digital assets unit, said Ripple’s custody system delivers the reliability and security needed to earn customer trust.
Maroto added that the partnership allows BBVA to provide end-to-end custody services, reinforcing the bank’s position as a leader in Europe’s evolving crypto landscape.