Ripple announced today it has signed an agreement with Spain's Banco Bilbao Vizcaya Argentaria to provide Bitcoin and Ethereum custody services to the major European bank. The partnership marks Ripple's latest expansion into traditional banking as financial institutions increasingly seek regulated digital asset solutions for their customers.
What to Know:
- Ripple will provide its institutional-grade custody technology to help BBVA offer secure Bitcoin and Ethereum storage services to Spanish retail customers
- The deal comes after BBVA launched Bitcoin and Ethereum trading services for all Spanish retail customers in July 2025
- The partnership reflects growing European bank adoption of crypto services following implementation of the EU's comprehensive MiCA regulatory framework
Strategic Partnership Builds On Existing Relationship
The custody agreement leverages Ripple's institutional-grade self-custody technology platform. BBVA will use this infrastructure to serve retail customers who began accessing Bitcoin and Ethereum trading services through the bank in July.
"Ripple's custody solution allows us to leverage proven and trusted technology that meets the highest security and operational standards," said Francisco Maroto, Head of Digital Assets at BBVA. The bank aims to provide end-to-end custody services directly to customers rather than relying on third-party providers.
This partnership represents the latest collaboration between the two companies. Ripple already provides custody solutions to BBVA's Turkish subsidiary Garanti BBVA and BBVA Switzerland, establishing a broader relationship across the banking group's international operations.
Cassie Craddock, Managing Director of Europe at Ripple, attributed the partnership to regulatory clarity provided by the European Union's Markets in Crypto-Assets regulation. The comprehensive framework has enabled banks across the continent to offer digital asset services with greater confidence.
Growing Institutional Adoption Across Banking Sector
The banking industry has shown increased interest in cryptocurrency custody solutions over recent months. Several major developments have emerged as regulatory environments become more favorable toward digital assets.
US Bancorp recently resumed Bitcoin custody services after a three-year pause, reflecting renewed institutional appetite for cryptocurrency services. The decision followed guidance from three key US banking regulators - the Office of the Comptroller of the Currency, Federal Reserve, and Federal Deposit Insurance Corporation.
Ripple has expanded its custody operations beyond traditional banking partnerships.
The company recently joined forces with UAE-based Ctrl Alt to broaden its cryptocurrency custody services in the Middle East region.
European banks have moved particularly quickly to embrace digital assets following MiCA implementation. The regulation provides a unified legal framework for digital assets, stablecoins, and related service providers across all EU member states. This standardization has reduced compliance complexity for banks seeking to offer cryptocurrency services.
Understanding Digital Asset Custody And Regulatory Frameworks
Digital asset custody refers to the secure storage and management of cryptocurrencies on behalf of institutional or retail clients. Unlike traditional securities, cryptocurrencies require specialized technology and security protocols to prevent theft or loss of private keys.
MiCA represents the European Union's most comprehensive attempt to regulate the cryptocurrency industry.
The framework establishes licensing requirements, operational standards, and consumer protection measures for companies offering digital asset services across the 27-member bloc.
Self-custody technology allows institutions to maintain direct control over digital assets rather than relying on third-party custodians. This approach can reduce counterparty risk while meeting regulatory requirements for institutional-grade security measures.
Market Performance And Industry Outlook
Bitcoin traded at $111,040 at press time, declining 1.2% over the previous 24 hours. The cryptocurrency has maintained significant institutional interest despite short-term price fluctuations.
The growing adoption of custody services by traditional banks signals broader institutional acceptance of digital assets as legitimate financial instruments. Regulatory clarity in major markets has accelerated this trend, with banks now viewing cryptocurrency services as competitive necessities rather than experimental offerings.