Ripple and Spanish bank BBVA have entered into an agreement to implement digital asset custody technologies, expanding the bank's capabilities in the cryptocurrency sphere.
Agreement Between Ripple and BBVA
Ripple has confirmed its expansion in Europe through an agreement with BBVA, enabling the Spanish banking group to utilize Ripple's digital asset custody technologies. This collaboration supports BBVA's recently launched cryptocurrency trading services for its customers in Spain.
MiCA's Role in Accelerating Crypto Adoption
The agreement comes amid the implementation of the MiCA regulatory framework in the EU, which has established clear rules for banks and financial institutions. Ripple executives stated that this clarity is enabling faster adoption of digital assets by European banks.
Ripple's Expansion in Africa
Additionally, Ripple has confirmed the launch of its U.S. dollar-backed stablecoin, Ripple USD (RLUSD), in Africa, which will be executed in partnership with local fintech companies, extending access to digital payment systems across the continent.
The agreement between Ripple and BBVA opens new opportunities for clients and strengthens the banking sector's position in the digital asset space in Europe.
