BBVA Switzerland Adds Ethereum (ETH) to its Cryptocurrency Services

BBVA Switzerland Adds Ethereum (ETH) to its Cryptocurrency Services

Several months after releasing Bitcoin trading and custodial products, BBVA’s Swiss arm has decided to add Ethereum (ETH) services as well. The new features will be available on the bank’s app, next to other investment options.

  • The statement released by the bank reads that the addition of Ethereum will be available for private clients and customers with New Gen accounts.
  • The largest Spanish banking institution – Banco Bilbao Vizcaya Argentaria (BBVA) – said it’s the first such organization to launch crypto services in Europe.
  • Users will be able to manage their cryptocurrency investments through the bank’s application and also convert them to euros, dollars, or other fiat currencies.
  • “We decided to add ether to our crypto asset ‘wallet’ because, together with bitcoin, they are the protocols that spark the most interest among investors, while also offering all the guarantees to comply with regulation.”- commented BBVA Switzerland’s CEO, Alfonso Gomez.
  • The bank dipped its toes in the crypto industry earlier this year when it launched bitcoin trading and custodial services in Switzerland.
  • The new statement highlighted that the initiative was “very well received among private banking customers and new investors who opt to personally manage their portfolios through New Gen since its commercial launch.”
  • According to BBVA Switzerland, investors based in Latin America have the highest appetite for digital asset investors, followed by those in Europe and Turkey.
  • Although the crypto services are coming only through the bank’s Switzerland branch due to the nation’s friendly approach, it promised to launch more once other regulators embrace digital assets.
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