Cryptocurrency News

BBVA Switzerland Becomes the First Traditional Bank in Europe to Provide Ethereum Trading and Custody Services

By December 15, 2021 No Comments

Key takeaways:

  • BBVA Switzerland has incorporated Ethereum trading and custody services into its existing crypto offering, allowing customers to manage crypto along with traditional investments
  • BBVA, one of the largest financial institutions in the world, is looking to expand beyond Switzerland once regulatory conditions are met
  • If you are looking for a single stop solution to engage in cryptocurrency trading, forex, and traditional stock markets, few platforms offer the rich feature set and seamless user experience of MetaTrader

Switzerland arm of BBVA, one of the largest financial institutions in the world, has expanded its cryptocurrency product and services offering with the addition of Ethereum trading and custody solutions for its private banking clients. 

BBVA Switzerland’s clients can now access crypto services along with traditional financial products

Roughly six months after BBVA Switzerland first began offering Bitcoin trading and custody services, the bank decided to incorporate the world’s second-largest digital asset into its growing financial suite of products.

Alfonso Gómez, CEO of BBVA Switzerland, talks about further adoption of blockchain technology and expanding the bank’s crypto services:

“We are bringing the quality of banking service to the fledgling world of crypto assets. With this innovative offer, BBVA positions itself as a benchmark institution in the adoption of blockchain technology. Over the coming months, we will continue to enhance and expand the digital asset offering.”

BBVA Switzerland allows customers to access Bitcoin and Ethereum features through customized digital wallets and provides the ability to manage crypto funds from the comfort of the bank’s app along with traditional financial asset investments.

While the bank’s novel cryptocurrency service is currently limited to residents of Switzerland, the leading financial institution plans on expanding to new markets once the regulatory landscape improves.

BBVA Switzerland’s offering is especially attractive because it combines traditional and digital assets into a single investment management suite; however, its list of supported crypto assets includes just BTC and ETH. On top of that, it is exclusively available to users from Switzerland. 

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