First Traditional Bank in Europe to Add Ether to Its Crypto Services

BBVA Switzerland

December 14, 2021

Reading Time: 2 minutes

BBVA Switzerland’s cryptoasset service, which became available to all clients in June, has advanced further with the inclusion of ether in the investment portfolio.

As a result, private banking clients and customers with a New Gen account at BBVA Switzerland will be able to handle both bitcoins and this cryptocurrency.

They may examine these digital assets alongside other conventional investments on the BBVA app. They may also be instantly changed to euros, dollars, or any other fiat money.

BBVA Switzerland is Europe’s first conventional bank to provide an ether-based payment solution.

BBVA Switzerland adds ether to its investment portfolio

Alfonso Gómez, CEO of BBVA Switzerland, stated that they opted to include ether in their cryptoasset’ wallet’ because, together with bitcoin, it is the protocol that generates the greatest interest among investors while also providing all of the necessary regulatory assurances.

Since its commercial introduction, BBVA Switzerland’s innovative digital asset custody service has been favourably accepted by private banking clients and new investors who choose to manage their portfolios via New Gen individually.

Investors who seek to diversify their portfolios, from individual consumers and family offices to institutional investors, are the most in-demand. In terms of geographic areas, BBVA highlights Latin American nations, where there is much interest in investing in digital assets of all types, as well as Europe and Turkey.

BBVA’s digital asset portfolio

BBVA Switzerland intends to continue developing its digital asset portfolio in the coming months. BBVA has positioned itself as a leader in the adoption of blockchain technology with this unique offer, making it simpler for its clients to invest in this new digital world.

For the time being, BBVA is only delivering this new service in Switzerland, where the blockchain ecosystem is well mature, with clear rules and a significant degree of usage of these digital assets.

BBVA development into other countries or to different categories of clients will be contingent on whether the markets are mature, demand-driven, and regulated properly.

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