In an announcement made earlier right now, US-based blockchain firm Ripple mentioned that it had inked an settlement with main Spanish financial institution Banco Bilbao Vizcaya Argentaria (BBVA) to supply the monetary establishment with Bitcoin (BTC) and Ethereum (ETH) custody companies.
Ripple To Provide Bitcoin, Ethereum Custody Services To BBVA
Ripple, the blockchain agency behind the XRP token, right now mentioned it had partnered with BBVA to supply its digital asset custody answer to the financial institution. To recall, in July 2025, BBVA introduced the launch of its Bitcoin and ETH buying and selling and custody companies for all retail prospects in Spain.
According to right now’s announcement, Ripple will provide Ripple Custody – its institutional-grade digital asset self-custody expertise – to BBVA to assist it profit from a scalable and safe custody service for tokenized belongings, together with digital belongings.
Cassie Craddock, Managing Director of Europe at Ripple, mentioned that with the implementation of the European Union’s (EU) Market’s in Crypto-Assets regulation (MiCA) throughout the continent, it has change into simpler for the area’s banks to supply digital asset companies to their prospects.
For the uninitiated, Europe’s MiCA is the EU’s complete authorized framework designed to manage digital belongings, stablecoins, and different associated service suppliers throughout all member states.
Ripple Custody will allow BBVA to fulfill quickly rising buyer demand for entry to digital belongings equivalent to BTC and ETH. At the identical time, it would additionally make sure that the financial institution fulfills the strict regulatory, safety, and operational necessities. Francisco Maroto, Head of Digital Assets at BBVA mentioned:
Ripple’s custody answer permits us to leverage confirmed and trusted expertise that meets the best safety and operational requirements, permitting BBVA to straight present an end-to-end custody service to its prospects. Through this settlement we are able to ship on our aim of supporting our prospects to discover digital belongings, backed by the power and safety of a financial institution like BBVA.
It is price highlighting that the settlement between BBVA and Ripple is simply the newest chapter within the relationship between the 2 entities. Ripple already supplies crypto custody options to Turkey-based Garanti BBVA and BBVA Switzerland.
Crypto Custody Solutions In Focus
Over the previous month, a number of developments have occurred within the trade pertaining to crypto custody options. For occasion, just lately Ripple joined forces with UAE-based Ctrl Alt to broaden its crypto custody companies.
A positive stance towards digital belongings within the US is a key issue encouraging banks to supply crypto custody options to their purchasers. For instance, US Bancorp just lately resumed its Bitcoin custody companies after a hiatus of three years.
In comparable information, the “large three” banking regulators within the US – particularly the OCC, Federal Reserve, and FDIC – just lately collectively issued steering on how banks ought to method the custody of digital belongings. At press time, Bitcoin trades at $111,040, down 1.2% prior to now 24 hours.
Featured picture from Unsplash.com, charts from ESMA and TradingView.com
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