Spain’s BBVA Opens Bitcoin Trading to All Private Banking Clients in Switzerland – Services Bitcoin News

Spain’s second largest bank, BBVA, opens its bitcoin trading and custody service to all private bank customers in Switzerland within a few days. The bank has been testing the encryption service for six months. “The bitcoin management system is fully integrated” into the bank’s application, “where its performance can be viewed in parallel with that of other assets, capital or investments of customers.”

Fully integrated BBVA Bitcoin service

Spanish Banco Bilbao Vizcaya Argentaria (BBVA) announced on Friday that BBVA Switzerland will open a bitcoin trading and storage service to all private banking customers on June 21st.

The bank has been testing this new encryption service with a select group of customers for six months. The BBVA explained:

At present, BBVA Switzerland’s offer includes bitcoin trading and safekeeping services, with the aim of extending it to other cryptocurrencies. The entity will not offer advice on these types of investments.

The BBVA explained that the new encryption service is currently only available in Switzerland, because the country has “clear regulation and widespread adoption” of encryption data.

Founded in 1857, BBVA “holds a strong position in the Spanish market, is the largest financial institution in Mexico, has a top franchise in South America,” according to its website.

At the end of March, the group had € 719.7 billion in total assets, 79.8 million customers in more than 25 countries, 122,021 employees, 7,254 stores and 30,747 ATMs. BBVA is the second largest bank in Spain after Banco Santander. Its presence in Switzerland is through a 100% franchise group.

Bank announcement details:

One of the most important attractions of BBVA Switzerland offer is that the bitcoin management system is fully integrated into its application, where its performance can be viewed in parallel with that of other assets, funds or investments of customers.

This service “allows investing and combining traditional and digital financial assets in the same investment portfolio,” the bank said, adding that it helps customers “with simplicity in transactions, tax returns, tax returns and more.” λπ. »

The BBVA also stated that “Through the client’s personalized digital wallet, bitcoins can be converted into euros or any other current currency, and vice versa, automatically, without delays and without liquidity affecting other digital wallets or independent brokers.”

Alfonso Gómez, CEO of BBVA Switzerland, commented: “We are bringing the quality of banking services to the new world of cryptocurrencies. With this innovative offering, BBVA is positioned as a benchmark in the adoption of blockchain technology. “Revealed:

In the coming months, we will continue to improve and expand our digital data offering.

What do you think about BBVA bitcoin service? Let us know in the comments section below.

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