Ripple Partners with BBVA to Offer Digital Asset Custody Services for Retail Clients

BBVA collaborates with Ripple to offer institutional-grade custody for Bitcoin and Ethereum, capitalizing on the EU’s MiCA regulation to expand crypto services in Spain.

BTC

ETH

XRP

93d ago

Fact Check

The statement is strongly supported by the evidence. Source 1 (CoinDesk) explicitly states, 'Ripple will provide digital asset custody technology to BBVA for Spanish retail clients.' This directly confirms all parts of the statement. Multiple other sources corroborate the existence of a broader partnership for digital asset custody between Ripple (and/or its subsidiary Metaco) and various entities within the BBVA group, including in Switzerland and Türkiye, which strengthens the overall claim.

Summary

BBVA has expanded its partnership with Ripple to provide digital asset custody for Bitcoin (BTC) and Ethereum (ETH) to its retail customers in Spain. Leveraging Ripple Custody, BBVA aims to securely manage crypto holdings for its clients, building on previous collaborations in Turkey and Switzerland. The deal follows the European Union’s Markets in Crypto-Assets (MiCA) regulation, encouraging banks across Europe to offer crypto services. Ripple’s technology is also being utilized by Binance to store customer assets off-exchange in Spain, reducing counterparty risks.

Terms & Concepts

Digital Asset Custody: A service that securely stores and manages cryptocurrencies on behalf of clients, ensuring compliance and protection against theft or loss.
MiCA (Markets in Crypto-Assets): A European Union regulatory framework designed to provide legal clarity, consumer protection, and market oversight for digital assets and crypto service providers.
Ripple USD (RLUSD): Ripple’s U.S. dollar-backed stablecoin, issued by a New York Department of Financial Services–regulated trust company, with a circulating supply exceeding $700 million on Ethereum and the XRP Ledger.