The BBVA Spanish bank has teamed up with Singapore SGX FX to allow detail customers to exchange digital assets directly via its platforms.
Integration, marking a first for the European market, announced Thursday companies, initially supported Bitcoin and Ether, offering 24/7 trading with the same frame as BBVA uses for foreign exchange.
The SGX has been passionate about digital technologies and blockchain for several years, while BBVA has also been at the forefront among banks with regard to crypto.
SGX FX provides banks with aggregation, pricing, distribution and risk management tools while retaining operations in the main global data centers in London, New York, Tokyo and Singapore.
“SGX FX has built its reputation over 25 years by delivering a platform hardened by live negotiation decades for the FX global markets.
The regulation of markets of the Crypto-Asets (MICA) markets of the European Union has paved the way for highly regulated businesses to offer crypto services and working with SGX FX, BBVA is positioned to comply with these requirements while meeting the growing demand for customers.
“Digital assets are quickly an integral part of the global financial system. It is natural that our customers want to be able to exchange these assets using the same confidence system, “said Luis Martins, a global macro-exchange manager in BBVA.
