BBVA, the second largest bank in Spain is set to begin crypto trading. It is going to launch its cryptocurrency trading and custody services around the world. BBVA is however waiting for approval from Switzerland to begin its operations.
The sources in the know of these things said it will function from Switzerland and will be used across Europe. Switzerland does have rules which are a little less comprehensive.
“There are still some compliance hurdles so this will not be in December, but I expect they [BBVA] will be live next month,” they added.
Asked if BBVA was building its solution primarily to deal with tokenized securities and the like, the source said: “This is a cryptocurrency offering.”
According to multiple media reports, BBVA have integrated the same custody solution for the digital asset as SILO. It was six months back that BBVA begun with the SILO platform and continuing to add to it.
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