BBVA’s Swiss franchise has expanded its cryptocurrency custody and trading service by allowing transactions for the leading altcoin Ethereum. cryptocoin.com We are giving the details as…
BBVA to offer services for leading altcoin Ethereum
BBVA Switzerland’s crypto asset service, which started operations for all clients last June, has taken another step forward with the addition of Ethereum to its investment portfolio. Therefore, BBVA Switzerland’s private banking customers and customers with a new generation account will be able to manage both Bitcoins and this cryptocurrency.
On the BBVA app, they can view these digital assets along with other traditional investments. They can also be automatically converted to euros, dollars or any fiat currency. With this development, BBVA’s Swiss arm became the first traditional bank in Europe to include Ethereum in its service. According to BBVA’s official statement, the bank’s CEO, Alfonso Gómez, used the following statements:
We decided to add Ethereum to our crypto-asset “wallet” because, along with Bitcoin, it is one of the protocols that attracts the most interest among investors and also offers a guarantee in terms of regulatory compliance.
Since its commercial launch, BBVA Switzerland’s new service has been very well received among private banking customers and new investors who prefer to personally manage their portfolios through New Gen, according to the statement. It is stated that the biggest demand comes from investors who want to diversify their portfolios. In terms of geographical locations, BBVA highlights Europe and Turkey as well as Latin American countries where there is a strong interest in all kinds of cryptocurrencies. For now, BBVA offers this new service in Switzerland.
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