Ripple is expanding its banking partnerships in Europe through a new agreement with BBVA in Spain.
The deal will see BBVA integrate Ripple’s digital asset custody technology into its recently launched retail service for trading and holding bitcoin and ether.
The move comes as European banks adapt to the Market in Crypto Assets (MiCA) regulation, which sets a framework for offering digital asset services across the EU.
“Now that MiCA is established, the region’s banks are emboldened to launch the digital asset offerings that their customers are asking for,” said Cassie Craddock, Ripple’s managing director for Europe.
Ripple Custody was born out of the blockchain firm’s acquisition of Swiss crypto custody specialist Metaco, which had signed up BBVA.
Francisco Maroto, BBVA’s head of digital assets, said the integration allows the bank to “directly provide an end-to-end custody service” with the security customers expect from a major financial institution.
The partnership extends Ripple’s prior work with BBVA, which already uses its custody technology in Switzerland and Turkey. For Ripple, Spain represents another foothold in Europe’s regulated digital asset market. Ripple holds more than 60 regulatory licenses globally.
The deal signals a gradual shift in how traditional banks approach crypto. Instead of relying on third-party providers, institutions like BBVA are opting to build in-house services using established infrastructure providers.
