Ripple has announced that Spain’s second-largest bank, BBVA, would integrate its institutional-grade custody technology into the bank’s retail crypto platform in Spain.
This signals a new phase of mainstream adoption for digital assets in Europe, coming at a time when the region’s banks are embracing the regulatory clarity provided by the EU’s Markets in Crypto-Assets (MiCA) law.
The agreement between Ripple and BBVA enables BBVA customers to trade and securely hold bitcoin and ether directly within the bank’s mobile application.
By using Ripple Custody, BBVA can manage cryptocurrencies and tokenised assets without depending on third-party intermediaries, giving customers a more seamless and trusted experience.
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The Spanish lender disclosed the new offering to Spain’s National Securities Market Commission (CNMV), underscoring its commitment to transparency and compliance.
With this rollout, BBVA becomes one of the first major European banks to make crypto trading and custody services available to retail clients under a fully regulated framework.
The new agreement is not the first between the two companies. Ripple and BBVA have previously worked together in Switzerland and Turkey, where the custody technology was deployed to support similar initiatives.
BBVA’s Swiss unit had already collaborated with Metaco, the digital asset firm Ripple acquired in 2023, to build out its custody operations.
The pair also tested real-time cross-border payments in earlier pilot projects, signalling a broader ambition beyond custody alone.
Last month, BBVA was reported to have taken on a role as one of the few independent custodians serving clients of Binance, the world’s largest crypto exchange.
BBVA’s move in Spain reflects a broader shift within Europe’s financial industry.
MiCA’s implementation has given traditional banks a clear path to enter the crypto sector while ensuring customers remain protected.
Ripple executives have pointed to MiCA as a turning point for the European banking sector.
Cassie Craddock, Ripple’s managing director for Europe, noted that the regulation gives banks the confidence to deliver digital asset services their customers have long demanded.
By adopting Ripple’s custody solution, BBVA can scale its offering to meet rising demand without compromising on compliance or security.
For Ripple, the deal in Spain adds another milestone in its strategy to support regulated financial institutions across Europe.
BBVA echoed the same sentiment, stressing that customers can now explore digital assets while maintaining the security expected from a global bank.
Francisco Maroto, who heads the lender’s digital asset unit, said Ripple’s custody system delivers the reliability and security needed to earn customer trust.
Moroto added that the partnership allows BBVA to provide an end-to-end custody service, strengthening the bank’s position as a leader in Europe’s evolving crypto landscape.
The post Spanish bank BBVA taps Ripple to power retail crypto custody under MiCA appeared first on CoinJournal.
Spanish bank BBVA taps Ripple to power retail crypto custody under MiCA
Source: https://coinjournal.net/news/spanish-bank-bbva-taps-ripple-to-power-retail-crypto-custody-under-mica/
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