Main navigation

2nd Biggest Spanish Bank BBVA Launches Bitcoin Trading App for Private Customers in Switzerland

News
Fri, 06/18/2021 - 10:39
article image
Yuri Molchan
After 6 months of trials, BBVA Switzerland has announced the launch of Bitcoin trading for its private clients
2nd Biggest Spanish Bank BBVA Launches Bitcoin Trading App for Private Customers in Switzerland
Cover image via stock.adobe.com
Read U.TODAY on
Google News

The recently published press-release says that the second largest bank is Spain, BBVA, is now offering its first service for cryptocurrency trading and crypto custody to all its private customers in Switzerland.

The new crypto trading service will begin operating on June 21, allowing the bank’s private clients an exposure to crypto assets. This is taking place after 6 months of trials.

8162_0
Image via Twitter

BBVA clients now have an exposure to Bitcoin

The bank will start with Bitcoin trading and custodial services, possibly expanding the list of digital assets in the future.

The press-release points out that this is being done to allow its investors to diversify their portfolios.

The system that allows trading and storing the flagship cryptocurrency is fully integrated into the bank’s mobile app, where a user can see BTC’s performance next to that of other assets, funds, etc.

Related
CBDC Director, Tom Mutton, Makes Critical Statement About Digital Currencies

Thus, the bank now allows its private clients to combine traditional and innovative financial assets, which will be held in the same portfolio.

In that app, BTC can be easily converted into any fiat currency, such as EUR, USD, etc.

Currently, the new offer of the bank is limited to Switzerland only, since this country has already implemented clear policy for regulating crypto assets.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.