BBVA Switzerland, the Swiss franchise of Spanish multinational financial institution BBVA, has expanded its cryptocurrency custody and trading service with the addition of Ether to its investment portfolio. Its private banking clients and new gen customers will now have access to both Bitcoin and Ether, a statement from the company said. These digital assets can be viewed along with other traditional investments on BBVA’s app, and can automatically be converted to euros, dollars or any fiat currency. According to BBVA Switzerland, this move makes it the first traditional bank in Europe to incorporate Ether into its service. The crypto asset service went live for all customers in June last year. BBVA Switzerland aims to continue expanding its portfolio of digital
Topics:
Fintechnews Switzerland considers the following as important: 1) SNB and CHF, 6c.) Fintechnews, BBVA, Blockchain/Bitcoin, Featured, newsletter, Wealthtech
This could be interesting, too:
Eamonn Sheridan writes CHF traders note – Two Swiss National Bank speakers due Thursday, November 21
Charles Hugh Smith writes How Do We Fix the Collapse of Quality?
Marc Chandler writes Sterling and Gilts Pressed Lower by Firmer CPI
Michael Lebowitz writes Trump Tariffs Are Inflationary Claim The Experts
BBVA Switzerland, the Swiss franchise of Spanish multinational financial institution BBVA, has expanded its cryptocurrency custody and trading service with the addition of Ether to its investment portfolio.
Its private banking clients and new gen customers will now have access to both Bitcoin and Ether, a statement from the company said.
These digital assets can be viewed along with other traditional investments on BBVA’s app, and can automatically be converted to euros, dollars or any fiat currency.
According to BBVA Switzerland, this move makes it the first traditional bank in Europe to incorporate Ether into its service.
The crypto asset service went live for all customers in June last year.
BBVA Switzerland aims to continue expanding its portfolio of digital assets in the coming months.
The new service is currently available in Switzerland, and expansion to new countries or customer groups will depend on market conditions in terms of maturity, demand and regulation.
“We decided to add ether to our crypto asset ‘wallet’ because, together with bitcoin, they are the protocols that spark the most interest among investors, while also offering all the guarantees to comply with regulation,”
said Alfonso Gómez, CEO of BBVA Switzerland.
Featured image: Photo by DrawKit Illustrations on Unsplash
You Might Also Like
Roll Out of Digital Euro Could Transform Payments in Germany
2021-12-15
A digital programmable euro is essential for innovative business models in Germany, according to the Frankfurt School Blockchain Centre (FSBC).
Bitcoin Capital Rolls Out New Crypto ETPs on the Swiss Stock Exchange
2021-12-06
Bitcoin Capital has expanded its crypto asset offerings by launching two new crypto exchange-traded products (ETPs) on the SIX Swiss Exchange.
German Regulator BaFin Grants Third Crypto Custody License to Tangany
2021-10-10
Tangany has received a license from the German Federal Financial Supervisory Authority (BaFin) as the third regulated service provider for the custody of digital assets in the country to provide crypto custody business. Furthermore, Tangany plans to apply for further licenses in Germany and Europe in the future and has already received preliminary permission from BaFin to manage registers of crypto securities.
Coinbase to Invest US$500 Million Into Crypto Assets
2021-09-21
American cryptocurrency exchange platform Coinbase announced that it has committed to invest US$500 million of its cash and cash equivalents into a diverse portfolio of crypto assets. Coinbase added that going forward, it will also allocate 10% of quarterly net income into this same portfolio.
MoneyLion to Offer Crypto Investment Ahead of SPAC Merger
2021-09-16
US-based neobank MoneyLion announced the launch of its new cryptocurrency capabilities, enabling customers to buy and sell digital currencies within its app. MoneyLion said that eligible customers will initially be able to buy and sell Bitcoin and Ethereum, as well as round-up their debit card purchases in Bitcoin.
Blockchain-Based Invoice Factoring Firm Hiveterminal Expands to DACH Region
2021-09-15
Blockchain-based invoice factoring platform Hiveterminal announced that it has expanded to the DACH region as part of its Europe growth plans. Hiveterminal aims to start cultivating relationships with Swiss-based small and medium-sized enterprises (SMEs) who need fast and continuous access to liquidity without going through the hassle of applying for bank financing.
Nassim Taleb Now Calls Bitcoin Worthless, Too Volatile to be a Useful Currency or Store of Value
2021-07-23
Not only does bitcoin fail to satisfy the notion of being a currency without a government, but the cryptocurrency is also not a reliable inflation hedge nor a safe haven investment, Nassim Nicholas Taleb, a probability researcher and former quantitative trader, says in a recent paper.
Visa Customers Spent More Than US$1 Billion on Crypto-Linked Cards in 2021
2021-07-09
Visa revealed that its customers had spent more than US$1 billion on its crypto-linked cards in the first half of 2021. The payments giant reported that it had partnered with 50 leading crypto platforms on card programmes that make it easy to convert and spend digital currency at 70 million merchants worldwide.
Tags: BBVA,Blockchain/Bitcoin,Featured,newsletter,Wealthtech