Ripple and BBVA are expanding their previous collaborations between Switzerland and Türkiye. BBVA will begin retail crypto protection for BTC and ETH using Ripple. MICA regulations give banks the confidence to expand their digital asset services.
Ripple has announced that BBVA, Spain’s second largest bank, will integrate its institutional grade custody technology into the Spanish bank’s retail crypto platform.
This marks a new phase in mainstream adoption for European digital assets, coming when regional banks are adopting the regulatory clarity provided by cryptographic EU markets (MICA) laws.
Ripple’s Crypto Custody enters Spain
The agreement between Ripple and BBVA allows BBVA customers to trade and securely hold Bitcoin and ether directly within the bank’s mobile application.
By using Ripple Custody, BBVA can manage cryptocurrency and tokenized assets without relying on third-party intermediaries, providing a more seamless and reliable experience.
Spanish lenders have revealed new recruitment to Spain’s National Securities and Markets Commission (CNMV), highlighting their commitment to transparency and compliance.
With this deployment, BBVA will become one of the first major European banks to make crypto trading and custody services available to retail clients under a fully regulated framework.
Based on past collaborations
A new contract is not the first between the two companies. Ripple and the BBVA have previously worked together in Switzerland and Türkiye. There, custody techniques were deployed to support similar initiatives.
BBVA’s Swiss unit was already working with Metaco, the digital asset company Ripple, which it acquired in 2023, to build custody.
The pair also tested real-time cross-border payments in previous pilot projects, demonstrating broader ambitions beyond custody alone.
Last month, it was reported that BBVA had taken on the role of one of the few independent custodians serving clients of Binance, the world’s largest crypto exchange.
European banks can provide cryptographic services under MICA
The BBVA movement in Spain reflects wider changes in the European financial industry.
With the implementation of MICA, traditional banks have given them a clear pathway to ensure that their customers remain protected while entering the crypto sector.
Ripple executives point to MICA as a turning point for the European banking sector.
Cassie Craddock, managing director of Europe at Ripple, noted that the regulations give banks the confidence to provide digital asset services that their customers have long requested.
By adopting Ripple’s custody solution, BBVA can expand its services to meet growing demand without compromising compliance or security.
For Ripple, trading in Spain adds another milestone to its strategy to support regulated financial institutions across Europe.
The BBVA repeated the same sentiment, emphasizing that it has enabled customers to explore digital assets while maintaining the security expected from global banks.
Francisco Maloto, who heads the lender’s digital asset unit, said Ripple’s management system provides the reliability and security needed to gain customer trust.
Molot added that the partnership will allow BBVA to provide end-to-end custody services, which will strengthen the bank’s position as a leader in Europe’s evolving crypto landscape.
