Ripple, one of the leading providers of digital asset infrastructure for financial institutions, today announced an agreement with BBVA to provide its digital asset custody technology to the Spanish bank. The move supports BBVA’s recent announcement of its new crypto-asset trading and custody service for bitcoin and ether, which it has made available to retail customers in Spain.
Through the agreement, BBVA will leverage Ripple Custody, Ripple’s institutional-grade digital asset self-custody technology to deliver a scalable and secure custody service for tokenized assets, including crypto-assets.
“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,” said Cassie Craddock, Managing Director, Europe, at Ripple. “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.”
Ripple’s custody technology enables financial institutions like BBVA to confidently respond to customer demand for access to crypto and other digital assets while meeting strict security, operational, and regulatory requirements.
“BBVA has long demonstrated strong leadership in digitization and innovation and the launch of our digital assets offering in Spain follows earlier offerings in Switzerland and Turkey,” said Francisco Maroto, Head of Digital Assets at BBVA. “Ripple’s custody solution allows us to leverage proven and trusted technology that meets the highest security and operational standards, allowing BBVA to directly provide an end-to-end custody service to its customers. Through this agreement we can deliver on our goal of supporting our customers to explore digital assets, backed by the strength and security of a bank like BBVA.”
The new agreement between Ripple and BBVA in Spain builds on a longstanding collaboration between the two companies. Ripple also provides custody technology to Garanti BBVA in Turkey and BBVA Switzerland.
Thanks to its simple, secure, compliant digital asset infrastructure, Ripple is well-positioned to provide the core services that financial institutions need to store, exchange and move digital assets. Ripple has over a decade of experience in the digital asset space and holds 60+ regulatory licenses and registrations in various jurisdictions around the world.
Source: Ripple
