Spanish banking giant BBVA is expanding its presence in the crypto space through its crypto custody platform, Garanti BBVA Kripto. The platform will soon offer crypto trading services to the general public, utilizing the services of Spanish crypto exchange Bit2Me. BBVA's partnership with Bit2Me indicates a growing trend among European banks to offer crypto spot trading to their customers. The implementation of the Markets in Crypto-Assets (MiCA) regulation across the EU has provided regulatory certainty for financial institutions to offer exposure to cryptocurrencies. BBVA's move into the crypto industry in Turkey was facilitated by the favorable regulatory environment. The enthusiasm for crypto in the banking sector is attributed to the regulatory certainty and increased interest in bitcoin due to factors such as endorsements by US President-elect Donald Trump and the success of US spot bitcoin exchange-traded funds. BBVA follows other European banks like Deutsche Bank and Société Générale that have ventured into the crypto space.



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