Ripple and BBVA have entered into a partnership aimed at creating new digital asset custody and trading services for customers in Spain.
Collaboration between Ripple and BBVA
Ripple announced an agreement with BBVA to provide its digital asset custody technology to the Spanish bank. This partnership aligns with BBVA's launch of a new trading and custody service for crypto assets targeted at retail clients in Spain. By using Ripple Custody, BBVA can offer secure and scalable services for tokenized assets, including Bitcoin and Ether.
BBVA Expands Digital Asset Services
Francisco Maroto, Head of Digital Assets at BBVA, stated that the integration allows the bank to provide an "end-to-end custody service" with the security expected from a major institution. The timing coincides with the enforcement of the EU's Markets in Crypto-Assets regulation (MiCA), which provides a standardized legal framework for digital assets in Europe.
Ripple's Growing Presence in Europe
The launch in Spain is part of BBVA's broader strategy, which includes providing crypto trading and custody services in Switzerland and Turkey since 2021. Ripple continues to expand its influence in Europe by partnering with various financial institutions, potentially increasing the company's importance as a key player in euro payments.
The agreement between Ripple and BBVA highlights a significant step towards integrating digital assets into traditional financial institutions in Europe, opening new opportunities for customers.
