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.
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.
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.