- Ripple expands its European presence with a custody partnership with BBVA in Spain.
- BBVA will use Ripple Custody for its retail crypto trading and custody service.
- The deal builds on BBVA’s earlier launches in Switzerland and Turkey.
Ripple is making another major move to wire itself into the European banking system, this time locking in a key custody partnership with Spanish giant BBVA.
Fresh off its resolution with the SEC, Ripple is now aggressively leveraging the regulatory clarity of Europe’s MiCA framework to embed its institutional-grade custody tech into traditional finance.
What Exactly is BBVA Using Ripple For?
Through the partnership, BBVA will integrate Ripple Custody, the firm’s institutional-grade digital asset infrastructure, into its newly launched retail service that enables customers in Spain to trade and hold BTC and ETH.
Related: BlackRock’s Presence at Ripple’s Event Sparks Speculation on XRP ETF Future
The service will also extend to tokenized assets, giving the bank a scalable and secure solution that meets strict operational and regulatory requirements.
A Mutually-Beneficial Deal
Ripple Custody, developed following Ripple’s acquisition of Swiss custody specialist Metaco, will help BBVA to deliver a fully in-house custody service rather than relying on third-party providers.
Ripple executives noted that with MiCA providing a clear regulatory framework across Europe, banks now have the confidence to roll out crypto services in line with customer demand.
For BBVA, the move builds on its earlier digital asset initiatives in Switzerland and Turkey, where the bank has already deployed Ripple’s custody technology.
With the Spanish launch, BBVA aims to expand its footprint in the European crypto market while offering its customers secure access to digital assets backed by the trust of a traditional bank.
Ripple Expands Post SEC Lawsuit Wrap-Up
With more than a decade of experience in digital assets and over 60 regulatory licenses worldwide, Ripple seeks to lead the blockchain infrastructure sector.
The partnership follows Ripple’s shift back to business following the resolution of its long-running legal battle with the US Securities and Exchange Commission last month.
The two parties recently agreed to dismiss their appeals in the case over XRP’s status as a security, ending years of uncertainty for the blockchain firm.
Related: XRP (XRP) Price Prediction For September 10
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
