Spanish BBVA Opens Bitcoin Trading to All Private Banking Clients in Switzerland

Spain's second largest bank, BBVA, will open its bitcoin trading and custody service to all private banking customers in Switzerland in a few days. The bank has been testing the cryptocurrency service for six months. "The bitcoin management system is fully integrated into the bank's application", where its "performance can be viewed along with the rest of the client's assets, funds or investments". BBVA's fully integrated Bitcoin service Spain's Banco Bilbao Vizcaya Argentaria (BBVA) announced on Friday that BBVA Switzerland will open a bitcoin trading and custody service to all private banking customers on June 21. The bank is testing this new cryptocurrency service with a select group. customers for six months. BBVA explained: For now, BBVA Switzerland's offering includes bitcoin trading and custody services for expansion into other cryptocurrencies. The entity will not advise on such investment. BBVA explained that the new cryptocurrency service is currently only available in Switzerland because the country has “clear regulation and widespread adoption” of crypto assets. Founded in 1857, BBVA "has a strong leadership position in the Spanish market, is the largest financial institution in Mexico and has leading franchises in South America," he says. At the end of March, the group had 719.7 billion euro assets, 79.8 million customers in more than 25 countries, 122,021 employees, 7,254 branches and 30,747 ATMs. BBVA is Spain's second largest bank after Banco Santander. Its presence in Switzerland is through a franchise that is 100% owned by the group. Bank's announcement details: One of the main attractions of BBVA Switzerland's offering is that its bitcoin management system is fully integrated into its application, where its performance can be viewed along with the bank's remaining assets, funds or investments. customer. This service "makes it possible to invest and combine traditional and digital"

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