Ether, developed by Ethereum, is the most common digital currency after Bitcoin
BBVA Switzerland’s cryptoasset service was activated for all customers in June. And now, it has added ether into its investment portfolio. This means that BBVA Switzerland’s private banking customers and users with a New Gen account will be able to manage both Ether and Bitcoin.
Users can use the BBVA app to view digital currencies and other traditional investments. The users can also convert the digital currencies to dollars, euros or any fiat currency.
BBVA Switzerland is the initial traditional financial institution to add ether to its services in Europe. The addition came as a result of the traction that Bitcoin and ether get among investors. Both currencies also guarantee compliance with the relevant regulation.
New users and private banking consumers have received the bank’s digital asset custody well. Investors who are looking to diversify their portfolios such as family offices, institutional investors and individual customers are looking forward to the product more.
BBVA underscores nations with extensive interest in investments in digital assets such as Latin American nations, Turkey and Europe.
As BBVA Switzerland hopes to expand its digital assets portfolio in the coming months, it’s positioning as a leading financial institution in the adoption of blockchain technology will ease consumers’ investments in the digital world.
Currently, this service is available in Switzerland. However, it could expand to other countries based on whether the markets meet the demand, maturity and regulation.
We’ve reported that Visa launches crypto advisory services.