HomeBlockchainBBVA Switzerland debuts Bitcoin trading and custody for Swiss clients

BBVA Switzerland debuts Bitcoin trading and custody for Swiss clients


According to a release issued, Spain’s second-largest bank —Banco Bilbao Vizcaya Argentaria (BBVA) switzerland is set to offer Bitcoin trading and custody services in Switzerland for all private banking clients interested in crypto assets from June 21.

This initial crypto trading service isonly for Bitcoin but the bank says it has plans to extend its offering to other cryptocurrencies. As part of the announcement, BBVA Switzerland revealed that the Bitcoin trading service will form part of the bank’s asset investment catalog for private banking clients. Thus, customers will be able to view the performance of their BTC positions alongside the rest of their portfolios.

According to the statement, this in-app integration will offer simplicity for customers in terms of streamlined data for statement of accounts and tax filing purposes among others. BBVA Switzerland also stated that customers will be able to convert between Bitcoin and fiat currencies automatically to prevent losses due to price volatility.

For BBVA Switzerland CEO Alfonso Gómez, the move represents a melding of quality banking services and innovations in the crypto asset space. “With this innovative offer, BBVA positions itself as a benchmark institution in the adoption of blockchain technology,” the CEO said.

Regarding its decision to first introduce the product in Switzerland, BBVA highlighted the country’s crypto-friendly policies as a major determining factor.

Source: https://cointelegraph.com/news/banking-giant-bbva-debuts-bitcoin-trading-and-custody-for-swiss-clients


Cyprus registers Binance as a cryptocurrency service provider.

Binance, a cryptocurrency exchange, will be able to provide services for virtual currencies in Cyprus as a result of the platform's recent registration with the...

More than 24,000 ATMs in Brazil will offer USDT through Tether and Smartpay.

Usdt, the largest dollar-pegged stablecoin on the market, was created by Tether, a company. Tether recently announced that more than 24,000 ATMs in Brazil will...

To solve the blockchain modularity issue, Celestia raises $55 million.

The project Celestia, which seeks to address the alleged centralization issue in the current monolithic blockchains, has announced the completion of its most recent funding...

Hong Kong considers removing the “Professional Investor-Only Requirement” and allowing retail investors to trade cryptocurrency.

Securities and Futures Commission (SFC) of Hong Kong's director of licensing and head of the fintech division both confirmed that the regulator is taking into...

Follow us


Most Popular