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Major Spanish Bank (BBVA) Is Getting Into Crypto Trading and Custody
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Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), Spain's second-biggest bank, is planning to launch a cryptocurrency trading and custody platform, according to a report from online publication Coindesk. The site quoted anonymous sources as saying that the Europe-wide initiative will be based out of Switzerland. Due to pending regulatory approvals, the timeline for the project's launch is not yet certain and ranges from this Christmas to sometime next month.
According to the Coindesk report, BBVA shares custody solution providers with Gazprombank, a Russian bank that launched similar services recently, and Standard Chartered PLC (SCBFF), a U.K. bank that plans to offer similar services.
BBVA's move is not entirely unexpected considering its
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