Ripple has formed a partnership with BBVA, Spain’s largest bank, to provide its institutional-grade custody technology for digital assets.
Announced earlier today, on 9th September, the partnership supports BBVA’s new retail crypto service, allowing customers in Spain to buy, sell, and hold bitcoin and ether.
With the integration of Ripple Custody, BBVA can offer a safe and scalable way to manage tokenized assets, adding even further assurance in the company’s standing as one of Europe’s most innovative banks in the digital finance space.
This also continues to demonstrate Ripple’s growing presence in Europe, where regulatory clarity through the EU’s Markets in Crypto-Assets (MiCA) is causing major financial institutions to embrace the crypto ecosystem.
Regulatory Clarity Opens Doors for Institutional Adoption
Ripple’s executives underlined how MiCA would enhance the flow of digital asset products in Europe.
Ripple’s Managing Director for Europe, Cassie Craddock, said that the new rules gave banks the confidence to serve more customer demand for regulated digital asset services.
Ripple Custody provides the deep institutional framework for banks like BBVA to act safely according to rigorous regulatory and operational standards.
BBVA can use this framework to grow its digital asset services in a controlled manner, reducing custody-related risks while responding to the retail customers interested in cryptocurrencies.
BBVA Builds on Global Innovation Track Record
For BBVA, this effort is part of a wider strategy intended to lead in digital finance innovation.
Francisco Maroto, Head of Digital Assets at BBVA, highlighted that Spain’s crypto-service builds on previous releases in Switzerland and Turkey, where the Bank has already launched client offerings related to digital assets.
Given the partnership with Ripple, BBVA’s experience enables it to offer a proven and trusted custody solution and to deliver a complete end-to-end solution to its customers.
This effort will not only further enhance BBVA’s digital banking offering but also provide clients with an opportunity to access and explore crypto markets supported by the trust and security of Europe’s leading bank.
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Ripple’s Strength in Europe Bolstered by Wider Industry Movements
This agreement with BBVA in Spain leverages Ripple’s proven record of supporting banks throughout Europe, including Garanti BBVA in Turkey and BBVA Switzerland.
Ripple’s infrastructure, supported by over 60 licenses worldwide, makes the company a go-to provider for compliant digital asset offerings that are also secure.
Simultaneously, Spain’s crypto landscape is heating up; UnoCrypto reported on July 7 that BBVA made retail bitcoin and ether trading available to Spanish customers.
Also, on August 8, we reported that Binance also entered a partnership with BBVA to investigate independent custody services for crypto.
These moves highlight Spain as a key emerging European extension for regulated digital asset adoption, with Ripple positioned at the head of this growth.
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