The Spanish banking giant BBVA and Ripple have extended their collaboration to provide institutional-grade XRP custody services across Spain.
With the adoption of the EU’s Markets in Crypto-Assets (MiCA) framework, the country’s regulatory environment around digital assets is becoming more robust. It instills a level of trust never before seen in banks and fintechs to innovate and introduce safe cryptocurrency products.
One of Spain’s biggest banks, BBVA, will now use Ripple Custody for its quickly expanding retail cryptocurrency business, which includes the bitcoin (BTC) and ether (ETH) trading introduced earlier this year. By utilising Ripple’s technology, BBVA will be able to provide retail clients with in-house, self-managed digital asset custody that offers security, scalability, and regulatory compliance for a variety of supported tokens, including XRP.
After acquiring Swiss crypto infrastructure expert Metaco, Ripple created Ripple Custody, which is already used by BBVA’s operations in Switzerland and Turkey. The move into Spain comes after successful trials and growing consumer demand for digital asset storage supported by reliable financial institutions.
Why Ripple Custody Stands Out
Banks may handle digital assets directly with Ripple Custody’s strong self-custody features, which include sophisticated operational, technological, and regulatory safeguards. Secure storage, private key management, stablecoin issuance, and on-chain governance are all supported, and it plans to grow with the need for tokenisation and digital asset trade.
With more than 60 regulatory licenses across the globe and more than ten years of experience, Ripple’s infrastructure is among the most reliable systems for digital asset custody with banks. This makes it possible for BBVA to provide a flawless service while adhering to the new MiCA regulations, which establish industry norms for consumer protection, transparency, and custody throughout the EU.
Following the resolution of long-standing legal issues in the US, Ripple’s relationship with BBVA in Spain demonstrates its expedited European development. European banks are now launching strong crypto asset solutions that combine the best of TradFi security and blockchain-powered innovation, driven by regulatory clarity.
With the integration of Ripple Custody, BBVA cements its leadership in digital finance, enabling millions of Spanish retail customers to participate in the growing world of crypto with the security of a top-tier bank. The move could fuel further adoption, bridge TradFi and DeFi, and set a benchmark for regulated crypto custody in the EU.
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