BBVA Embraces Ripple Tech for MiCA-Compliant Retail Digital Asset Custody in Spain

Spanish banking giant BBVA just dropped a blockchain bombshell—Ripple's technology will power their new retail digital asset custody platform, fully compliant with Europe's MiCA regulations.

Breaking the Mold

Forget clunky legacy systems. BBVA's move signals a seismic shift in how traditional finance handles digital assets. They're leveraging Ripple's proven infrastructure to offer seamless custody solutions directly to retail customers—no intermediaries, no excuses.

Why This Matters

MiCA compliance isn't just red tape—it's the golden ticket for mainstream crypto adoption. BBVA's play positions them ahead of the curve, offering regulatory clarity alongside cutting-edge tech. Because nothing says 'trust' like a centuries-old bank backing blockchain innovation.

The Bottom Line

While other banks still treat crypto like a risky side project, BBVA's diving in headfirst. They're not just dipping toes—they're building the pool. Maybe traditional finance finally learned that if you can't beat 'em, join 'em (and charge custody fees while you're at it).

BBVA partners with Ripple for crypto custody

Spanish banking group BBVA has partnered with Ripple (XRP) to provide digital asset custody services for its retail customers in Spain. Under the agreement, BBVA will leverage Ripple Custody, Ripple’s institutional-grade digital asset self-custody platform, to securely store Bitcoin (BTC) and Ethereum (ETH).

“Now that the EU’s Market’s in Crypto-Assets regulation (MiCA) is established across Europe, the region’s banks are emboldened to launch the digital asset offerings that their customers are asking for. BBVA has long been one of the region’s most innovative banks and we’re proud to support its ambitions with the most secure and compliant digital asset technology on the market,” said Cassie Craddock, Managing Director, Europe, at Ripple.

Ripple already provides custody tech to Garanti BBVA in Turkey and BBVA Switzerland, making Spain the latest addition to its growing network of regulated digital asset offerings for retail and institutional clients.

Meanwhile, inside sources say that Binance is also working with BBVA to hold customer digital assets off-exchange in Spain, a MOVE designed to reduce counterparty risk and prevent situations similar to the FTX collapse. Under this arrangement, Binance will store user funds within BBVA, which can then be used as margin for trading on the exchange.