Spain's second-largest bank BBVA holds stake in crypto custody platform Garanti BBVA Kripto will provide cryptocurrency trading services

According to a report from CoinDesk, Spanish banking giant BBVA is deepening its presence in the cryptocurrency ecosystem. As of December 2023, BBVA holds almost 86% of the shares in the cryptocurrency custody platform Garanti BBVA Kripto, which will soon offer cryptocurrency trading services to the public. The Spanish cryptocurrency exchange Bit2Me, founded in 2014, will serve as the execution center for the trades. With the full implementation of the Markets in Crypto-Assets Regulation (MiCA) across the EU, BBVA's partnership with the cryptocurrency exchange is seen by Bit2Me's Chief Sales Officer Abel Peña as a strong signal of more new developments to come. Peña stated in an interview, "I believe that by 2025, we will see many European banks offering cryptocurrency spot trading services to their users. We maintain very close contact with over 50 financial institutions across Europe and internationally, and they will begin rolling out their services in the first quarter of 2025."