Ripple will provide crypto custody services to Spain’s BBVA, enabling BBVA to offer end-to-end custody for Bitcoin and Ether retail trading under MiCA. Ripple’s institutional custody platform will power BBVA’s client services while meeting regulatory and security standards across the bank’s European operations.
-
Ripple to power BBVA’s institutional crypto custody
-
BBVA will use Ripple custody to support BTC and ETH retail trading and custody for customers.
-
BBVA’s move follows prior Ripple integrations in Switzerland (2023) and Turkey (2024), and aligns with MiCA-driven bank adoption.
Ripple custody services BBVA: Ripple will supply institutional crypto custody to BBVA for BTC and ETH retail trading under MiCA. Learn the implications and next steps for banks entering crypto.
Ripple custody services BBVA: Ripple, the US blockchain firm behind XRP, will provide institutional crypto custody services to Spain’s Banco Bilbao Vizcaya Argentaria (BBVA), expanding an existing partnership and supporting BBVA’s retail trading and custody offering for Bitcoin and Ether.
Ripple’s agreement with BBVA follows the bank’s launch of Bitcoin (BTC) and Ether (ETH) retail trading and custody. Under the agreement, BBVA will rely on Ripple’s institutional custody platform to deliver end-to-end custody services directly to its retail and institutional clients.
What are Ripple custody services to BBVA?
Ripple custody services to BBVA refer to Ripple’s institutional-grade custody platform deployed to hold and manage crypto assets on behalf of Banco Bilbao Vizcaya Argentaria. The service enables BBVA to offer regulated, secure custody for BTC and ETH while meeting MiCA-era compliance and operational standards.
How will BBVA use Ripple’s custody platform?
BBVA will integrate Ripple’s custody to secure client assets, support on‑ramping/off‑ramping flows, and provide a regulatory-compliant custody layer for its retail trading product. Francisco Maroto, BBVA’s head of digital assets, said the platform helps the bank “directly provide an end-to-end custody service.” Short integration timelines follow earlier Ripple work with BBVA Switzerland and Garanti BBVA in Turkey.
Banco Bilbao Vizcaya Argentaria headquarters in Bilbao, Spain. Source: Wikimedia
Why is MiCA driving adoption among European banks?
MiCA (Markets in Crypto-Assets) establishes a common regulatory framework across the EU, reducing legal uncertainty and enabling banks to offer digital-asset services at scale. Ripple’s managing director for Europe, Cassie Craddock, noted MiCA has encouraged traditional banks to accelerate crypto initiatives, making custody partnerships like BBVA–Ripple commercially viable.
Evidence of the trend includes multiple major banks and custody providers preparing or launching crypto services: Deutsche Bank has reported plans to allow clients to store crypto next year; Clearstream is preparing custody and settlement services for institutional clients; Boerse Stuttgart Digital Custody received a full MiCA license; and Standard Chartered launched European crypto services after obtaining a Luxembourg license.
What prior collaborations do Ripple and BBVA have?
This is not BBVA and Ripple’s first collaboration. BBVA Switzerland migrated its custody infrastructure to Ripple at the end of 2023. In 2024, Garanti BBVA in Turkey also adopted Ripple’s custody services. These earlier integrations helped inform the deployment approach and compliance work for BBVA Spain.
Frequently Asked Questions
How will this change customer services at BBVA?
Customers will gain access to integrated retail trading and custody for BTC and ETH through BBVA’s channels, with Ripple providing the custody infrastructure. This is expected to streamline on-chain custody operations, improve security standards, and speed product rollouts.
Key Takeaways
- Strategic partnership: Ripple will supply institutional custody to BBVA for BTC and ETH, expanding prior collaborations.
- Regulatory driver: MiCA is a primary catalyst enabling European banks to launch custody and trading services.
- Industry momentum: Several major institutions and custody providers in Europe are preparing or launching crypto services under new licensing regimes.
How-to: Steps banks take to adopt custody services
- 1. Regulatory assessment and licensing readiness under MiCA or local regimes.
- 2. Select institutional custody provider (security, compliance, operational fit).
- 3. Integrate custody with client trading and account systems.
- 4. Conduct audits, third-party security assessments, and client onboarding pilots.
Conclusion
Ripple’s custody agreement with BBVA marks a notable step in mainstream banking adoption of crypto custody driven by MiCA. The collaboration builds on earlier Ripple integrations and positions BBVA to offer regulated, end-to-end custody for Bitcoin and Ether. Expect further institutional partnerships as European banks scale crypto services under clearer regulatory rules.
