Banking giant debuts Bitcoin trading

The entity will not offer advice on these types of investments

BBVA Bitcoin

Banking giant debuts Bitcoin trading. Source: shutterstock.com

BBVA Switzerland opens Bitcoin trading service to all private banking clients, according to the press release.

The new service is available only in Switzerland for its private banking clients interested in digital asset investments.

For the time being, BBVA Switzerland‘s offer includes Bitcoin trading and custody services, with the aim of extending it to other cryptocurrencies.

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
Alfonso Gómez, CEO of BBVA Switzerland

BBVA Switzerland states that Bitcoin management system is fully integrated into its app, where its performance can be viewed alongside that of the rest of the customers’ assets, funds or investments.

This service thus represents a novel offering, as it allows investing and combining traditional and digital financial assets in the same investment portfolio. This integration also offers a great advantage in terms of simplicity when it comes to trading, account statements, tax returns, etc.

Through the customer’s personalized digital wallet, Bitcoins can be converted into euros or any other current currency, and vice versa, automatically, without delays and without the illiquidity that affects other digital wallets or independent brokers.

We’ve reported that Thailand bans NFT trading.

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