Enterprise blockchain company Ripple has announced that it will be providing custodial services for Spanish banking giant Banco Bilbao Vizcaya Argentaria (BBVA).
The extension of the partnership between Ripple and BBVA will make it possible for the latter to "confidently" respond to demand for digital assets, the announcement says.
Cassie Craddock, Ripple's managing director, has praised BBVA as one of the most innovative banks in Europe.
Long-time partner
The major banking institution, which was originally founded all the way back in 1857, first partnered with Ripple in April 2017. Back then, it utilized the company's technology for completing its very first real-time international money transfer. The transaction in question was conducted between Mexico and Spain.
In 2021, the Swiss branch of the bank began utilizing Metaco's Harmonize platform, which is owned by Ripple, for cryptocurrency custody services.
Last year, the Turkish subsidiary of the bank collaborated with Ripple as well as tech giant IBM to enhance digital asset security.
Ripple President Monica Long has commented that she is “excited” about the new chapter of the partnership between Ripple and BBVA.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team