Spain's second-largest bank BBVA holds a stake in crypto custody platform Garanti BBVA Kripto to offer cryptocurrency trading services
According to CoinDesk, Spanish banking giant BBVA is deepening its presence in the crypto ecosystem.
As of December 2023, BBVA holds almost an 86% stake in crypto custody platform Garanti BBVA Kripto, which will soon offer cryptocurrency trading services to the public. Spanish crypto exchange Bit2Me, founded in 2014, will serve as a trading execution center.
With the Crypto Asset Markets Regulation (MiCA) in full force across the European Union, BBVA's partnership with the crypto exchange was seen by Abel Peña, Chief Sales Officer of Bit2Me, as a strong signal that more new developments are on the horizon.
I believe that by 2025 we will see a lot of banks in Europe offering crypto spot trading services to their users, Peña said in an interview. We are in very close contact with more than 50 Financial Institutions Groups across Europe and in international markets that will start rolling out their services in Quarter 1, 2025.