Ripple Expands Footprint in Spain With BBVA Custody Deal

Ripple and BBVA extend collaboration to Spain, offering regulated digital asset custody services for growing crypto demand.

Ripple has announced a new agreement with Spanish banking group BBVA to provide digital asset custody technology in Spain. The collaboration supports BBVA’s launch of a new service for retail customers in the country, offering trading and custody for bitcoin and ether. This step builds on Ripple’s growing presence in Europe as banks adapt to the evolving regulatory environment.

Partnership to Support BBVA’s Crypto Service

The agreement will allow BBVA to use Ripple Custody, which is described as institutional-grade digital asset self-custody technology. The service aims to provide a secure and scalable solution for managing tokenized assets, including crypto-assets. With this arrangement, BBVA seeks to respond to increasing customer demand for access to digital assets in Spain.

BBVA confirmed that the new offering follows its earlier initiatives in Switzerland and Turkey. By adopting Ripple’s custody solution, the bank intends to deliver an end-to-end service under its own infrastructure. Ripple stated that its technology allows banks to meet strict security, operational, and regulatory standards while offering a reliable digital asset platform.

Expansion Aligned With European Regulation

The partnership comes as the European Union’s Markets in Crypto-Assets regulation, known as MiCA, is now in effect across the region. Ripple emphasized that this regulatory clarity has encouraged more banks in Europe to launch digital asset services. According to Ripple’s Managing Director for Europe, banks are now in a stronger position to meet customer expectations in this sector.

BBVA noted that its latest launch in Spain is an extension of its ongoing digital strategy. The bank sees the service as a way to give customers safe access to digital assets while maintaining the reliability of a regulated financial institution. Ripple has experience working with financial regulators worldwide, and it continues to position its technology as compliant with market requirements.

Building on Longstanding Collaboration

Ripple already provides custody technology to Garanti BBVA in Turkey and to BBVA in Switzerland. The new agreement in Spain builds on this existing collaboration between the companies. Both parties see the arrangement as a way to extend proven solutions across multiple markets.

Ripple has been active in the digital asset sector for over ten years and holds more than 60 regulatory licenses and registrations globally. Its custody, payments, and stablecoin solutions are designed for institutions seeking to store, exchange, and move digital assets. BBVA, founded in 1857, remains one of the largest financial institutions in Spain and continues to invest in digital banking innovation.

By working together, Ripple and BBVA aim to address growing demand for digital assets while ensuring security and compliance. The partnership reflects the increasing role of blockchain-based infrastructure in the financial services industry, particularly as regulated banks expand their digital offerings in Europe.