SPAIN’S SECOND largest bank, BBVA, is to offer customers cryptocurrency trading services early in the new year as institutions worldwide adapt to the blockchain revolution.
BBVA, whose net assets stand at almost 700 billion euro, is expected to launch its new cryptocurrency services shortly after Christmas. The Bilbao based institution, which operates worldwide, will give its millions of customers the opportunity to easily buy, sell, and store cryptocurrencies as the value of Bitcoin and others steadily rise.
Their crypto operation will be based in Switzerland, which has high levels of clarity and digital currency regulation in comparison to Spain or other European countries. BBVA was already one of the first major banks in the world to complete transactions using blockchain technology as early as July 2018, paving the way for its new crypto platform today.
Although initially hostile to cryptocurrencies, banks across the globe are now adapting their services as Bitcoin and other capture headlines with their soaring values. DBS, the largest bank in Singapore, has announced its plans to create a major crypto trading platform while many banks in Eastern Europe are reportedly ahead of the game in the e-currency revolution. Bitcoin recently hit its peak value at just under $20k per coin, causing many investors to pour money into cryptocurrencies worldwide.
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