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First Traditional Bank in Europe to Add Ether to Its Cryptocurrency Services

Mon, 12/13/2021 - 10:29
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Arman Shirinyan
BBVA Switzerland becomes one of the first banks in Europe to adopt Ether
First Traditional Bank in Europe to Add Ether to Its Cryptocurrency Services
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One of the largest banks of Europe has announced that it is going to widen its cryptocurrency trading service offering by adding Ethereum to its portfolio.

Addition to Bitcoin

The big addition will allow the institution to provide its private banking clients with a new offer that will give them exposure to the second-largest cryptocurrency on the market. Customers with a "New Gen" account will be able to manage their portfolio by adding and selling Bitcoin and Ethereum.

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In addition to simplified purchasing services, BBVA clients that use the bank's mobile application will be able to view make operations with both digital and traditional assets with their phones. All cryptocurrencies are convertible to the euro, dollar or any other fiat currency.

BBVA Switzerland was the first traditional financial banking institution in Europe to implement Ethereum in its crypto offering. According to the bank's CEO, the decision to add Ethereum as part of its crypto offering was based on the spark of interest among the majority of investors.

Bank's custody service

The bank's asset custody service had a warm welcome among its clients, who were willing to personally manage their portfolios and diversify their current holdings with more volatile digital assets. According to the bank's statement, the major part of the demand comes from those who are willing to receive exposure to the service for diversification, including private and institutional investors.

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BBVA Switzerland is also going to continue expanding its offering of digital assets in the upcoming months. The bank has already positioned itself as one of the leading offerings on the market that gives exposure to digital assets and is moving forward on the crypto adoption path.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.