Ripple Expands Custody Service to Spain With New BBVA Partnership

• BBVA will use Ripple’s institutional-grade custody tech to power its new crypto trading and custody services in Spain.
• The launch aligns with Europe’s MiCA framework, which provides banks with clearer rules and confidence to expand digital asset offerings.
• Ripple already supports BBVA’s operations in Switzerland and Turkey, cementing its role as a core custody provider.

Ripple has announced a new agreement with Spanish banking giant BBVA to provide its institutional-grade digital asset custody technology. The deal, announced on September 9, coincides with BBVA’s official launch of its new crypto-asset trading and custody service for retail customers in Spain, initially offering Bitcoin (BTC) and Ether (ETH).

The partnership allows BBVA to leverage Ripple Custody, a self-custody infrastructure designed for institutions, to deliver a secure and scalable solution for managing tokenized assets, including cryptocurrencies.

Regulatory Green Light From MiCA

Ripple executives emphasized that the European Union’s Markets in Crypto-Assets (MiCA) regulation has created a stronger framework for banks to enter the digital asset space.

“Now that MiCA is established across Europe, the region’s banks are emboldened to launch the digital asset offerings that their customers are asking for,” said Cassie Craddock, Managing Director of Europe at Ripple. She added that Ripple is proud to support BBVA’s expansion with “the most secure and compliant digital asset technology on the market.”

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BBVA has been at the forefront of digital banking innovation, with earlier launches of digital asset services in Switzerland and Turkey. The new offering in Spain represents a continuation of this strategy.

“Ripple’s custody solution allows us to leverage proven and trusted technology that meets the highest security and operational standards, allowing BBVA to directly provide an end-to-end custody service to its customers,” said Francisco Maroto, Head of Digital Assets at BBVA.

“Through this agreement, we can deliver on our goal of supporting our customers to explore digital assets, backed by the strength and security of a bank like BBVA.”

Building on Longstanding Collaboration

The agreement is not the first between Ripple and BBVA. Ripple also provides custody technology to Garanti BBVA in Turkey and BBVA Switzerland, further strengthening its role as a core infrastructure provider for the banking group’s digital asset strategy.

Ripple noted that its custody platform is designed to help institutions meet stringent security, operational, and regulatory requirements while enabling them to scale their offerings as demand grows.

Ripple’s Growing Global Footprint

Ripple emphasized its credibility in the institutional space, citing over a decade of experience in digital assets and more than 60 regulatory licenses and registrations worldwide. The company is positioning itself as a key enabler for banks and financial institutions looking to store, exchange, and move digital assets under compliant frameworks.

With BBVA’s latest move, Spain becomes another testbed for Ripple’s technology in Europe, where MiCA is expected to accelerate institutional adoption of crypto services.

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