BBVA taps Ripple for institutional Bitcoin, Ether custody in Europe

Ripple will provide crypto custody services to Spain’s BBVA bank, expanding its existing partnership amid MiCA-driven adoption by European banks.

Ripple, the US blockchain firm behind the XRP cryptocurrency, will provide crypto custody services to Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA).

According to a Tuesday announcement, Ripple’s agreement to provide crypto custody services to BBVA follows the bank’s recent announcement of its Bitcoin (BTC) and Ether (ETH) retail trading and custody service. BBVA will rely on Ripple’s institutional custody service to power services to its customers.

BBVA’s head of digital assets, Francisco Maroto, said that Ripple’s custody service allows it to meet the necessary standards to “directly provide an end-to-end custody service.”

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