One of the world’s largest banks launches Bitcoin trading and custody in Switzerland

After six months of testing, this Swiss bank is preparing to offer Bitcoin trading and custody services to its clients.

BBVA Switzerland is the latest bank to enter the cryptocurrency space. Today they announce that their service will open on June 21 for its private banking clients interested in investing in digital assets.

According to BBVA CEO Alfonso Gomez, the launch of the six-month test tested the system and served to gauge interest in the cryptocurrency service.

“This gradual deployment has enabled BBVA Switzerland to test the operation of the service, to strengthen security and, above all, to detect that there is a strong desire among investors for crypto-assets or digital assets as a means of diversifying their portfolios. , despite their volatility. and high risk.

BBVA’s Bitcoin management system is fully integrated into its app, which will allow investors to track Bitcoin’s performance alongside other assets while allowing investors to hold traditional and digital assets in the same investment portfolio. .

The bank plans to issue digital wallets, where users can instantly convert between Bitcoin and other currencies without delay and without the illiquidity that plagues other digital wallets or independent brokers.

“We bring quality banking service to the nascent world of crypto assets.

With this innovative offer, BBVA is positioned as a benchmark institution in the adoption of blockchain technology. Over the next few months, we will continue to improve and expand the digital asset offering. “

Currently, Bitcoin trading is limited to Switzerland only. However, BBVA plans to expand the service to other countries depending on market maturation, demand and regulation.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and that any loss you may suffer is your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in Affiliate Marketing.

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