Ripple Strikes BBVA Deal to Deliver Crypto Custody in Spain

TLDR:

• Ripple expands partnership with BBVA to deliver institutional-grade digital asset custody to customers in Spain.
• BBVA rolls out crypto custody in Spain after earlier launches in Switzerland and Turkey, powered by Ripple Custody.
• Ripple’s custody technology allows BBVA to meet security, regulatory, and operational standards for crypto services.
• EU’s MiCA regulation creates space for banks like BBVA to meet rising customer demand for Bitcoin and Ether custody.

Spain’s banking sector is stepping deeper into crypto. Ripple announced a new deal with BBVA that strengthens their existing partnership. The agreement will give BBVA the tools to launch digital asset custody services inside Spain. This comes as banks across Europe start opening crypto access under new EU regulations. 

The move underscores growing customer demand for secure crypto services delivered by trusted institutions.

Crypto Custody Enters Spain’s Banking Market

Ripple said on its official blog that BBVA will integrate Ripple Custody, its institutional-grade self-custody system, into its Spanish operations. 

The rollout follows BBVA’s recent launch of retail crypto trading and custody for Bitcoin and Ether. The custody platform allows BBVA to scale support for both crypto-assets and tokenized assets.

According to Ripple, the deal fits into a broader European trend shaped by the Market in Crypto-Assets (MiCA) framework. With rules now clear, banks are rolling out services once seen as too complex or risky. BBVA’s choice of Ripple Custody reflects a demand for tested infrastructure.

Ripple shared that its custody system is designed to meet strict compliance and operational requirements. For banks like BBVA, this means the ability to serve retail customers without compromising security. The partnership expands an earlier collaboration in Switzerland and Turkey, where BBVA already uses Ripple’s technology.

BBVA’s Head of Digital Assets, Francisco Maroto, said the partnership gives customers access to crypto under the bank’s security framework. He pointed to a strategy of building on proven technology while keeping control in-house.

Ripple Custody Broadens Global Reach

Ripple explained that it has over 60 regulatory licenses and registrations worldwide. This global standing helps banks integrate digital assets while staying aligned with local oversight. By embedding Ripple Custody, BBVA gains a system with over a decade of field use.

In Turkey, Garanti BBVA already uses Ripple Custody for digital asset storage. Switzerland was among the first BBVA regions to open crypto access, also powered by Ripple. Spain now joins this list, showing a gradual rollout across BBVA’s global footprint.

Ripple Europe’s Managing Director, Cassie Craddock, said banks are now ready to act because of the MiCA framework. With regulation in place, customer demand is translating into live products. Craddock pointed to BBVA’s long record of digitization as the base for this step.

The news was also shared by Ripple’s official X account, confirming the expansion of custody services to BBVA’s Spanish customers. The company stated the partnership will help the bank respond to growing retail crypto demand.

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