BBVA Offers Bitcoin Service to Customers in Switzerland

BBVA Offers Bitcoin Service to Customers in Switzerland
BBVA, one of the largest banks in Europe, announced that its users in Switzerland will be able to invest in Bitcoin using the BBVA infrastructure as of June 21. It will be possible to switch to Bitcoin from several different fiat currencies.

Banking giant BBVA announced on Friday that it will begin offering crypto services to private banking customers. Customers in Switzerland will be able to convert currencies such as Swedish francs, euros and dollars into Bitcoin from Monday.

It will be no different from traditional investment instruments
Clients will be able to use a digital wallet integrated into their personal portfolio when investing in Bitcoin. BBVA announced that the same standards apply to “crypto-assets and other traditional financial assets” and that both can be traded on the same platform.

BBVA; It has not agreed with any third party to keep cryptocurrencies safe and will include customers' cryptocurrencies in its custody services. It was stated that bank customers can make transactions 24 hours a day, every day of the week, similar to those on cryptocurrency exchanges.

Stating that cryptocurrencies “have a great future”, BBVA announced that it will expand its crypto service in the coming months.

BBVA; He announced in December 2020 that he was working on a trading and custody service for Bitcoin. BBVA, which has been researching blockchain technology for over 5 years, has been conducting experiments since January 2021 on how this service can be delivered.

The entry of large companies into the crypto world may create a positive picture in pricing in the future.

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