Spain’s second-largest bank, BBVA, has received approval from the countryโs securities regulator to offer Bitcoin and Ether trading services.
This new initiative enables BBVA retail clients to securely buy, sell, and manage Bitcoin (BTC) and Ethereum (ETH) transactions directly through the bank’s mobile app, alongside their regular accounts and investments.
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The move marks a significant expansion of BBVA’s efforts to integrate digital assets into its financial services portfolio.
Initially available to a small group of users, the service will gradually be rolled out to all private customers in Spain over the coming months, as the bank aims to make cryptocurrency investment more accessible to its clients.
Key Features of the Service
BBVA’s new crypto offering stands out with its proprietary cryptographic key custody platform, allowing the bank to manage transactions in-house and maintain full control over the security of customer assets, without relying on third parties.
However, the bank has clarified that it will not provide advisory services for crypto investments. Instead, customers will be responsible for initiating and managing their transactions independently.
โWe want to make it easier for our customers to invest in digital assets with a simple, accessible offering available directly from their mobile phones, in a fully digital manner,โ said Gonzalo Rodrรญguez, Head of Retail Banking in Spain.ย
โOur goal is to guide them as they explore this new segment of digital assets, backed by the solvency and security assurances provided by a bank like BBVA.โ
Building on International Experience
BBVAโs initiative in Spain builds on its previous experience offering similar services in Switzerland and Tรผrkiye, where the bank began offering cryptocurrency trading in 2021 and 2023, respectively. The bankโs Turkish subsidiary, Garanti BBVA, is also preparing to launch public crypto trading services in 2025, partnering with Spanish cryptocurrency exchange Bit2Me to facilitate the services.
The move is aligned with the European Unionโs Markets in Crypto-Assets (MiCA) regulation, which aims to create a unified regulatory framework for crypto services across Europe.
The regulation is expected to boost crypto adoption among European banks and pave the way for more institutions to offer similar services.
Spainโs Growing Role in Crypto Adoption
Spain is quickly emerging as a significant player in the cryptocurrency space, driven by rising adoption, regulatory progress, and increasing institutional involvement.
As of early 2025, 9% of Spaniards own cryptocurrencies, a significant increase from 4% in 2022, according to a European Central Bank (ECB) survey.
The majority of Spanish cryptocurrency holders view digital assets primarily as an investment opportunity, with 57% citing this reason, while 19% use them for payments.
Spainโs financial regulators, such as the Spanish Securities Market Commission (CNMV), have been actively shaping the regulatory landscape for cryptocurrencies.
In addition, major Spanish banks like CaixaBank, Openbank, and Kutxabank are preparing to roll out crypto services, reflecting the expanding trend of crypto integration within Spainโs financial ecosystem.
Why This Matters
Spain is emerging as a key hub for cryptocurrency integration into the traditional financial system, marking a significant step in the mainstream adoption of digital assets across Europe.
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