BBVA Switzerland Enters the Crypto Space With The Launch Of BTC Custody And Trading

The bank of Switzerland is moving toward an offer to provide custody services to Bitcoin (BTC) clients as well as the trading after a period of testing for six months about whether to adopt it or not. Switzerland’s BBVA (Banco Bilbao Vizcaya Argentaria) is the latest bank entering the field of cryptocurrency. It has declared that the service for those individual banking clients who have an interest in the investments of digital assets will be made open on 21st June.

According to the CEO of BBVA, Alfonso Gomez, the six-month test before the launching was conducted so that to ensure that the system is capable of handling such transactions and of gauging the community’s interest in availing the services of cryptocurrency. He stated that BBVA Switzerland had been allowed be this gradual roll-out to gauge the services’ functionality, improve the security, and chiefly to identify that the investors are sufficiently desirous of utilizing the services such as investing in digital or crypto-assets in an attempt to provide a grandiose to their portfolios despite having a risk of volatility.

BBVA has integrated its complete Bitcoin management system into the app thereof, which makes it possible for the investors to track Bitcoin performance and the progress of the other assets simultaneously while enabling the investors to hold the digital as well as the traditional assets in one portfolio set out for investment.

The issuance of digital wallets on behalf of the bank is under planning. With the provision of the facility of digital wallets, the consumers will be able to make the conversions between Bitcoin (BTC) and the other currencies in the friction of seconds without any illiquidity or delay that could influence their independent brokerages or the digital wallets.

BBVA introduced an innovative offer stating that they are delivering certified banking services to the global audience who is novice about crypto assets. The position of BBVA has been proved to be a benchmark organization for the adoption of blockchain technology by announcing this latest offer. It was expressed further by the institution that they will make some developments for extending the offers related to the digital assets within the coming months. At this time, the trading of Bitcoin is confined to Switzerland only. Nonetheless, the country is planning to extend this service to other countries.

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