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- Ripple expands digital asset custody partnership with BBVA in Spain.
- BBVA adds retail crypto trading and custody for bitcoin and ether.
- The deal strengthens Ripple’s role in Europe’s regulated digital asset market.
Ripple has taken another step in Europe’s digital asset sector. The company announced a new agreement with BBVA to provide its custody technology to the Spanish banking group. The deal supports BBVA’s decision to open crypto-asset services to retail customers in Spain.
BBVA currently offers trading and custody for Bitcoin and Ether. Through Ripple Custody, the bank is also in a position to hold tokenized assets under stringent security and compliance frameworks. Ripple’s system allows banks to scale custody operations while being compliant in Europe.
The collaboration is a continuation of Ripple’s existing agreement with BBVA. The two are already collaborators in Switzerland and Turkey. Now Spain is included in the list, and BBVA cements its reputation as one of Europe’s most innovative banks in digital currency.
Ripple Supports BBVA’s Crypto Expansion in Spain
It follows as the European Union’s Markets in Crypto-Assets (MiCA) regulation provides banks with certainty. Assisted by MiCA, banks are no longer apprehensive of introducing new services. As per Ripple, new custodian platform for banks including BBVA accommodates functional as well as regulatory needs while taking on greater interest from customers.
BBVA’s track record of firsts in banking industry digitization continues with the newest Spain deployment. Previous deployments had been in Switzerland and Turkey. Spain joins the bank’s expanded availability of crypto in one of Europe’s key markets.
Consumers can now buy, sell, and store bitcoin and ether through BBVA. The system holds the services entirely on the bank’s system. Such a strategy aims to imbue consumers with confidence and trust in managing digital assets through a longstanding banking institution.
Ripple Expands Role in Europe’s Digital Asset Market
Ripple’s technology is familiar throughout banks in the world. It holds over sixty banking registrations and licenses in different areas. Its use of blockchain technology, payment, and custody experience make it a well-established supplier for banks.
For BBVA, adopting Ripple’s custody solution is a foray into compliance and safety. For Ripple, the transaction highlights it as a key contender in Europe’s mature digital asset marketplace. It’s become known for friction-reducing infrastructure, tokenization enablement, and efficiency gains.
The partnership is a shift in brick-and-mortar banks’ engagement with virtual currencies. As banks continue entering crypto, Ripple’s solutions are set to play a greater part in shaping money’s future.
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