Banco Bilbao Vizcaya Argentaria (BBVA) announced on March 10 that it had received the nod from Spain’s securities regulator, the Comisión Nacional del Mercado de Valores (CNMV), to offer Bitcoin (BTCEtherETHTrading services are provided to customers.
Through its app, the second largest Spanish bank is launching a crypto offering in Spain that will let users buy, manage and sell digital currencies. This lender’s app will allow users to buy, sell and manage digital assets. said It will maintain complete control of customer assets without involving third parties by using its own platform for cryptographic key custodianship.
The initial rollout is limited to select users, before being gradually expanded to all customers in Iberia.
Related: Bitcoin and Ether can ‘greatly improve’ portfolio performance: BBVA
BBVA’s crypto journey started in Switzerland
BBVA enters the market crypto began in SwitzerlandIn June 2021, it began offering Bitcoin trading and custody services to private banking customers. Since then, the Swiss branch of the bank has expanded its offering to include Ether (USDC) and USDC.USDC) stablecoin.
BBVA Türkiye Garanti BBVA Kripto has launched its 2025 strategic plan in January. crypto trading services to the public. BBVA has expanded its crypto-services in order to keep up with the evolving European regulatory environment.
MiCA permits are in high demand for TradFi, crypto and other firms.
BBVA expands as part of the Markets in Crypto-Assets Regulation (MiCA) reached full implementation By the end 2024. While this framework is in place, companies that use crypto in the EU will have to meet all of its requirements by July 2026. This period includes an 18-month phase for transition.
Source: ESMA The grandfather phase or transitional period for firms that are miCA compliant will last until July 2026. Source: ESMA
After MiCA was launched, many traditional financial firms have increased their efforts in obtaining MiCA licenses as well as integrating crypto services. Prime brokerage Hidden Road obtained The Netherlands will be able to use its MiCA licence on December 30, 2024. Standard Chartered followed on Jan. 9Boerse Stuttgart Digital Custody received approval in Luxembourg. Germany’s first MiCA-licensed crypto service provider 17th January 2019.
The new regulatory framework is also being adjusted by crypto-native businesses. By January 2025 major exchanges OKX, Crypto.com The following are some examples of how to get started: HashKey all secured MiCA approval. Bybit suffered the largest hack in crypto historyThe newest. removed from France’s blacklist The next step is to apply for a MiCA License.
Magazine: SEC’s U-turn on crypto leaves key questions unanswered
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
