BBVA partners with Ripple for Bitcoin custody

Spanish bank BBVA will use Ripple’s custody service for Bitcoin and Ether. The deal highlights growing crypto adoption among European banks driven by MiCA regulations.

Ripple powers BBVA’s crypto custody service

Ripple, the U.S. blockchain company behind XRP, has strengthened its partnership with Spain’s BBVA. According to Tuesday’s announcement, Ripple will provide institutional custody services for BBVA’s Bitcoin and Ether offering. This move follows BBVA’s recent launch of crypto trading and custody for retail clients.

Francisco Maroto, BBVA’s head of digital assets, said Ripple’s service enables the bank to deliver “a fully compliant, end-to-end custody solution.” The agreement aligns with strict European security and regulatory standards.

MiCA regulation accelerates crypto adoption in Europe

Cassie Craddock, Ripple’s European managing director, noted that MiCA rules are motivating banks to expand their crypto services. BBVA has long been recognized as one of the region’s most innovative banks. BBVA Switzerland had already migrated its crypto custody to Ripple in 2023, while Turkey’s Garanti BBVA adopted the solution in 2024.

Meanwhile, Deutsche Bank is preparing to offer crypto custody next year. Clearstream, the trading arm of Deutsche Boerse, is also planning institutional custody services. Earlier this year, Boerse Stuttgart Digital Custody became the first German provider licensed under MiCA.

Europe’s growing institutional crypto market

The MiCA rollout is fueling a wave of traditional banks entering crypto. Standard Chartered launched digital asset services in Europe after securing a license in Luxembourg in early 2025. With BBVA’s move, institutional crypto custody is becoming a central pillar of banking innovation in the region.