BBVA Partners With Ripple to Launch Institutional Bitcoin and Ether Custody in Europe
Date: 2025-09-10
Spanish banking giant BBVA has expanded its collaboration with Ripple to roll out institutional custody services for Bitcoin and Ether in Europe. The move strengthens BBVA’s presence in the digital asset sector while aligning with the European Union’s new Markets in Crypto-Assets Regulation (MiCA).
Ripple, the U.S.-based blockchain company behind XRP, will provide the custody infrastructure, enabling BBVA to deliver a regulated, end-to-end service for its clients. BBVA’s head of digital assets, Francisco Maroto, emphasized that Ripple’s solution meets the security and compliance standards required for institutional-grade offerings.
Cassie Craddock, Ripple’s managing director for Europe, highlighted MiCA’s role in accelerating bank participation in the sector. She noted that BBVA has consistently been among the most innovative banks in the region, with recent reports suggesting its advisers recommend allocating 3% to 7% of wealthy clients’ portfolios to cryptocurrencies.
This is not BBVA’s first step with Ripple. In late 2023, BBVA Switzerland migrated its crypto custody services to Ripple, while Garanti BBVA in Turkey adopted the same infrastructure in 2024.
The partnership reflects a broader trend across Europe. Deutsche Bank is preparing to launch cryptocurrency custody services next year, while Deutsche Börse’s Clearstream and Boerse Stuttgart Digital Custody are already moving forward with institutional digital asset solutions under MiCA. Standard Chartered also introduced crypto services in Europe after receiving a digital asset license in Luxembourg earlier this year.
Alongside banks, fintech platforms are also expanding their digital asset products. ViriPay, for example, provides virtual cards with crypto top-up options, offering users a seamless bridge between traditional payments and blockchain-based finance.
MiCA’s rollout has triggered a new phase of adoption, bringing traditional banking institutions and fintech companies closer to digital assets as regulated services become central to Europe’s financial ecosystem.
