Ripple has extended its banking partnership with Spanish giant BBVA, enabling the bank to expand its retail crypto services under the European Union’s Markets in Crypto-Assets (MiCA) regulation. The move strengthens Ripple’s presence in Europe’s regulated digital asset market while giving BBVA customers secure access to bitcoin (BTC) and ether (ETH) trading and custody.
BBVA Integrates Ripple Custody Technology
The new agreement will see BBVA integrate Ripple’s custody infrastructure into its recently launched retail platform for digital assets. This partnership builds on BBVA’s earlier collaborations with Ripple in Switzerland and Turkey, where the bank already offers crypto services powered by Ripple’s technology.
Francisco Maroto, Head of Digital Assets at BBVA, said the partnership allows the bank to provide customers with an “end-to-end custody service” backed by the same security and trust expected from a leading global financial institution.
Ripple’s Custody Strengthens Post-Metaco Acquisition
Ripple entered the institutional custody market through its 2023 acquisition of Swiss custody specialist Metaco, which had previously signed BBVA as a client. Since then, Ripple Custody has expanded rapidly, securing partnerships with major banks and financial institutions worldwide.
Cassie Craddock, Ripple’s Managing Director for Europe, highlighted that MiCA has been a turning point for the industry:
“Now that MiCA is established, the region’s banks are emboldened to launch the digital asset offerings that their customers are asking for.”
Ripple currently holds over 60 regulatory licenses globally, positioning it as a key infrastructure provider for banks moving into digital assets.
MiCA Opens the Door for European Banks
The EU’s MiCA regulation, which came into effect in 2024, has created a standardized framework for digital asset services across all 27 member states. For banks like BBVA, this provides legal clarity and an opportunity to meet rising retail demand for crypto services.
By integrating Ripple’s custody solution, BBVA is reducing reliance on external third parties and opting to build a regulated, in-house digital asset service that fits within its broader retail offering.
The BBVA partnership underscores a broader trend: traditional banks are shifting from outsourced crypto services to integrated in-house solutions. Ripple’s custody technology allows them to retain control, improve compliance, and maintain customer trust.
With Spain now joining Ripple’s network alongside Switzerland and Turkey, Ripple is steadily expanding its European footprint as more banks prepare to scale digital asset adoption under MiCA.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.