BBVA Switzerland’s cryptoasset service, which was launched last June, has taken another step forward by adding ether to its investment portfolio. Therefore, private banking customers and customers with a New Gen account at BBVA Switzerland will be able to manage both bitcoin and this cryptocurrency. These assets are included in the BBVA app alongside traditional investments. Additionally, they can be converted into euros, dollars, or any fiat currency.
BBVA Switzerland is the first traditional bank in Europe to incorporate ether into its service.
“We decided to add ether to our cryptoasset ‘wallet’ because, together with bitcoin, they are the protocols that spark the most interest among investors, while also offering all the guarantees to comply with regulation,” said Alfonso Gómez, CEO of BBVA Switzerland.
Since New Gen’s launch, BBVA Switzerland’s new digital asset custody service has been well received by its private banking customers and new investors. The greatest demand comes from investors who want to diversify their portfolios – from individual customers and family offices to institutional investors.
In terms of geographic locations, BBVA underscores Latin American countries, where there is extensive interest in investing in all kinds of digital assets, but also in Europe and Turkey.
BBVA Switzerland aims to expand the portfolio of digital assets in the coming months. With this innovative offer, BBVA has positioned itself as a leading bank in the adoption of blockchain technology, thus making it easier for its customers to invest in this new digital world.
BBVA is currently offering this new service in Switzerland, which is considered to have a very advanced blockchain ecosystem, which is regulated clearly and has an extremely high level of adoption. Their expansion to new countries or other types of customers will depend on whether the markets meet the right conditions in terms of maturity, demand and regulation.