{"id":5225,"date":"2025-01-02T06:05:17","date_gmt":"2025-01-02T06:05:17","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=5225"},"modified":"2025-01-02T06:05:17","modified_gmt":"2025-01-02T06:05:17","slug":"garanti-bbvas-to-provide-crypto-trading-services-in-hint-of-things-to-come","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=5225","title":{"rendered":"Garanti BBVA\u2019s to Provide Crypto Trading Services in Hint of Things to Come"},"content":{"rendered":"
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Spanish banking giant Banco Bilbao Vizcaya Argentaria (BBVA) is deepening its foray into the crypto ecosystem.<\/p>\n

Garanti BBVA Kripto, a crypto custody platform operated by Garanti BBVA \u2014 Turkey\u2019s fifth largest bank, which as of December 2023 was almost 86% owned by BBVA \u2014 will soon be providing crypto trading services to the general public. Bit2Me, a crypto exchange founded in Spain in 2014, will be used as the bank\u2019s trading execution center.<\/p>\n

And now that the Markets in Crypto-Assets (MiCA) regulation is in full effect across the European Union, the partnership between BBVA and the crypto exchange is a strong signal of more things are brewing on the horizon, according to Abel Pe\u00f1a, Bit2Me\u2019s chief sales officer.<\/p>\n

\u201cI believe in 2025 we are going to see so many banks across Europe offering crypto spot trading to their users,\u201d Pe\u00f1a told CoinDesk. \u201cWe are in very close contact with more than 50 financial institutions, with banks all across Europe and internationally, and they will start launching their services in the first quarter of 2025.\u201d<\/p>\n

BBVA held $857 billion in assets in 2023, making it the 43rd largest bank in the world at the time, and the second biggest in Spain after Banco Santander. While Garanti BBVA Kripto has already been advertising crypto trading services on its website since January 2024, the product was only offered as a pilot and wasn\u2019t available for the general public, according to Bit2Me.<\/p>\n

BBVA began embracing the crypto industry in Turkey because the regulatory environment allowed it to move earlier, Pe\u00f1a said. Since MiCA finished rolling out on Dec. 30, financial institutions such as BBVA will now be able to secure approval from domestic regulators and offer exposure to bitcoin (BTC), ether (ETH) and other cryptocurrencies to their European customers.<\/p>\n

\u201cAs soon as they have the green light, they will start,\u201d Pe\u00f1a said. \u201cThis is from the knowledge that many of them are already integrated with us,\u201d he added, though he declined to disclose the names of the institutions.<\/p>\n

But why is the banking sector suddenly so enthusiastic about crypto? The regulatory certainty provided by MiCA played a part, Pe\u00f1a said, but U.S. President-elect Donald Trump \u2014 who became a vocal crypto supporter in the middle of his campaign, and won big in November \u2014 was also a factor. Not to mention the various ideas floating around to get the U.S. government to create a strategic bitcoin reserve.<\/p>\n

The tremendous success of the U.S. spot bitcoin exchange-traded funds, which have raked in a record $35 billion in inflows in less than a year, certainly didn\u2019t hurt either. \u201cWe\u2019re talking about an asset [bitcoin] that many users and companies want to gain exposure to. This is something that banks cannot deny anymore,\u201d Pe\u00f1a said.<\/p>\n

BBVA isn\u2019t the first European bank to dip its toes into crypto. Deutsche Bank, Germany\u2019s biggest multinational investment bank, is building<\/a> a rollup on Ethereum using ZKsync technology and has been working<\/a> on crypto custody and tokenization services with Swiss start-up Taurus since 2023, among other things. French financial services company Soci\u00e9t\u00e9 G\u00e9n\u00e9rale, for its part, has its own crypto arm, called SG-FORGE, which recently announced<\/a> it will deploy its own euro stablecoin to the XRP Ledger (XRPL) network.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Spanish banking giant Banco Bilbao Vizcaya Argentaria (BBVA) is deepening its foray into the crypto ecosystem. Garanti BBVA Kripto, a crypto custody platform operated by Garanti BBVA \u2014 Turkey\u2019s fifth largest bank, which as of December 2023 was almost 86% owned by BBVA \u2014 will soon be providing crypto trading services to the general public. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-5225","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/5225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5225"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/5225\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}