BBVA, Spain’s second-largest bank with over 77 million customers globally, launched Bitcoin trading and custody services on July 7, 2025, via its mobile app, marking a significant shift as traditional banks adopt crypto amid growing demand, evidenced by Bitcoin’s price hovering near $108,500 as reported by FXStreet on July 5, 2025.
This move follows BBVA’s earlier approval from Spain’s securities regulator in March 2025 to offer crypto services, a step influenced by global trends like Deutsche Boerse’s crypto custody launch and a softening stance on crypto banking by U.S. regulators, challenging the narrative that traditional finance resists blockchain integration.The decision contrasts with BBVA’s recent hostile takeover bid for Sabadell, blocked by the Spanish government on June 30, 2025, for three years, suggesting a strategic pivot towards crypto to diversify revenue as high interest rate benefits fade, aligning with a Reuters report on Spanish banks seeking new growth avenues.
