Ripple extends its banking partnerships in Europe thanks to a new agreement with BBVA in Spain.
The agreement will see BBVA integrate the technology of guarding the digital assets of Ripple in its retail service recently launched for trading and the holding of bitcoin and ether.
This decision comes as European banks adapt to the cryptographic asset market (Mica) Regulation, which defines a framework to provide digital asset services across the EU.
“Now that mica is created, the banks in the region are embraced to launch the digital asset offers that their customers are asking for,” Cassie Craddock, director general of Ripple for Europe said.
Ripple Custody was born from the acquisition by the blockchain company of the Specialist in the Guard of Swiss Cryptography Metaco, which had signed BBVA.
Francisco Maroto, head of BBVA digital assets, said that integration allows the bank to “directly provide a day -to -end childcare service” to the expectations of the customers of a major financial institution.
The partnership extends the previous work of Ripple with BBVA, which already uses its care technology in Switzerland and Turkey. For Ripple, Spain represents another foot on the regulated digital asset market in Europe. Ripple has more than 60 regulatory licenses worldwide.
The agreement indicates a progressive change in the way in which traditional banks approach the crypto. Instead of counting on third -party suppliers, institutions like BBVA choose to create internal services using established infrastructure providers.
