Ripple Teams Up with BBVA for Crypto Custody in Spain

Ripple has partnered with Spanish banking giant BBVA to provide secure cryptocurrency custody solutions, marking another step in the integration of digital assets into traditional banking services.

The collaboration will enable BBVA to offer its retail customers in Spain safe ways to store and trade Bitcoin and Ethereum. Ripple will provide the infrastructure needed for secure digital asset management, leveraging its extensive regulatory experience and over 60 worldwide regulatory licenses.

This partnership follows Ripple's previous collaborations with BBVA in Switzerland and Turkey, including the launch of Garanti BBVA Digital Assets' crypto wallet and trading platform. The move aligns with the broader trend of European banks expanding crypto services in response to the EU's Markets in Crypto-Assets (MiCA) regulations.

Focus Is On Safety and Compliance

Cassie Craddock, Ripple's Managing Director for Europe, emphasized the partnership's focus on providing safe and compliant digital asset services to clients. The agreement represents a significant shift in traditional banking, with institutions now directly integrating cryptocurrency services through trusted technology partners.

Ripple's involvement goes beyond simple infrastructure provision. The company aims to help banks confidently enter the digital asset market, offering a comprehensive approach to storing, exchanging, and managing digital assets.

Looking Ahead: The partnership highlights the growing acceptance of cryptocurrencies in mainstream financial services, with established banks seeking innovative ways to provide digital asset solutions to their customers.