Just-In: Spain’s Banking Giant BBVA Launches Bitcoin Trading Service in Switzerland
The Switzerland arm of BBVA, a Spanish banking giant has launched Bitcoin trading and custody services for its private clients. According to the company’s official announcement, the dive into the cryptocurrency ecosystem was preceded by six months of testing in which the bank certified the demand, and interest in the growing asset class amongst its clients.
The new service only involves Bitcoin trading and custody services, with the aim of extending it to other cryptocurrencies in the near future. The service is only currently available to clients in Switzerland, as the bank noted the crypto regulations in the country are well defined.
“This gradual roll-out has allowed BBVA Switzerland to test the service’s operations, strengthen security and, above all, detect that there is a significant desire among investors for crypto-assets or digital assets as a way of diversifying their portfolios, despite their volatility and high risk,” explains Alfonso Gómez, CEO of BBVA Switzerland.
The service is slated to be floated officially on June 21.Source