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BBVA will leverage Ripple’s custody technology to support its retail cryptocurrency trading platform in Spain as part of a partnership aimed at promoting Ripple’s adoption among major institutions worldwide. Thanks to Ripple, BBVA can now offer its clients secure direct custody of Ethereum and Bitcoin.

The bank will utilize Ripple Custody to power its live cryptocurrency trading and custody services for Spanish retail clients, according to a September 9, post from Ripple that confirmed the agreement. Banks require secure custody before transferring trillions of dollars’ worth of assets on-chain.

Ripple Custody is a robust framework designed to protect digital assets, featuring strong key management, insurance, auditability, and compliance readiness. By implementing Ripple Custody, BBVA can safely expand its retail cryptocurrency services while adhering to operational and regulatory standards.

The BBVA deal signals a shift in Ripple’s strategy. Although primarily known for its cross-border payment solutions, Ripple is increasingly positioning itself as a provider of multi-product infrastructure for international banks.

BBVA, a prominent Spanish banking institution, joins Ripple’s growing network of partnerships. Ripple has expanded its custodial footprint across Europe following its new agreement with Banco Bilbao Vizcaya Argentaria (BBVA). In addition to broadening its ecosystem and boosting XRP’s growth through this partnership, Ripple is also providing BBVA’s clients with a secure and seamless cryptocurrency trading experience.
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