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After six months of testing, this Swiss bank is ready to provide its clients Bitcoin trading and custody services.
BBVA Switzerland is the latest bank to enter the cryptocurrency space. Today, they announce that their service will open on June 21st for its private banking clients interested in digital asset investments.
According to BBVA CEO Alfonso Gomez, the six-month test launch stressed tested the system and acted as a means to evaluate demand in the bitcoin business.
“This gradual roll-out has allowed BBVA Switzerland to test the service’s operations, strengthen security and, above all, detect that there is a significant desire among investors for crypto-assets or digital assets as a way of diversifying their portfolios, despite their volatility and high risk.”
BBVA’s Bitcoin management system is completely linked into its app, allowing investors to follow Bitcoin’s performance alongside other assets and holding traditional and digital assets in the same investment portfolio.
The bank intends to provide digital wallets via which customers may immediately change between Bitcoin and other currencies without the delays and illiquidity that plague other digital wallets or independent brokers.
“We are bringing the quality of banking service to the fledgling world of crypto assets.
With this unique service, BBVA establishes itself as a forerunner in the use of blockchain technology. We will continue to improve and extend our digital asset offering in the coming months.”
Currently, Bitcoin trading is only available in Switzerland. However, based on market maturity, demand, and legislation, BBVA is considering expanding the service to additional nations.