The Swiss bank BBVA is expanding its crypto services to include Ethereum: report

Swiss bank BBVA, one of the largest European banks, has doubled its crypto exposure by introducing Ethereum services a few months after the release of its custody products. Sign and trade Bitcoin as we can see in our latest Ethereum news today.

BBVA’s Swiss branch has decided to add new Ethereum services and features to the bank’s app alongside other investment options.

The statement released by the bank said the addition of Ethereum will be available for both individual customers and new generation accounts. On the other hand, Spain’s largest banking institution, Banco Bilbao Vizcaya Argentaria, says it will be the first of its kind to introduce a cryptocurrency service in Europe.

Users can manage their crypto investments through the bank’s app and convert them into dollars, euros and fiat currencies. CEO Alfonso Gomez noted:

“We made the decision to add Ether to our crypto asset wallets because, along with Bitcoin, these are the protocols that investors are most interested in while providing all the guarantees of compliance.”

The bank dived into the crypto industry earlier this year when it launched BTC trading as well as other custody services in Switzerland. The new statement says this goal has been very well received by private banking clients and new investors who have chosen to manage their portfolios since New Gen launched. According to BBVA Switzerland, investors based in Latin America have the greatest demand for digital asset investors, followed by Turkey and Europe. The crypto services will only be rolled out through the bank’s Swiss branch as their friendly approach promises to be rolled out once all regulators adopt digital assets.

The partnership between 6 banks and SBI was made due to the growing demand for crypto in the Asia-Pacific region and will provide services to regulated institutions. The joint venture is expected to formalize operations by the end of 2021 and provide services in early 2022, after the Monetary Authority of Singapore approves the ordinance. The new company will offer a range of digital asset products and services in the form of tokenized securities such as bonds, digital stocks and digitally securitized loans.