Finance
What to know:
- Ripple is about to bestow its mystical digital asset custody powers upon BBVA’s Spanish retail clients (good luck, everyone).
- This is a sequel: BBVA has already unleashed bitcoin and ether trading in Spain, because why stop at reality?
- Ripple’s custody adventures are already causing minor headaches in Switzerland and Turkey, and now Spain gets a turn.
In a turn of events that will shock nobody who has watched banks try to keep up with crypto (a spectacle rivaling quantum physics and interpretive dance), Ripple is reaching out its tentacles and gripping BBVA in Spain.
BBVA’s latest trick involves weaving Ripple’s wizardry of digital asset custody right into its new retail service for trading and holding bitcoin and ether. It’s the banking equivalent of giving everyone a spaceship and hoping they don’t crash into the asteroid belt.
Why now? Well, the great and powerful MiCA regulation has stomped across Europe, setting up a framework so banks can sling digital assets legally-at least until politicians get bored and hit the reset button.
Cassie Craddock-Managing Director, Europe, and professional wrangler of blockchain drama at Ripple-suggests that MiCA has emboldened banks, which is what happens when regulations change and nobody wants to look uncool at cocktail parties. Customers want crypto, banks want customers, and the universe wants a laugh.
Ripple Custody exists today thanks to the acquisition of Metaco, famously Swiss and presumably obsessed with clocks and chocolate. Metaco had BBVA on its list, likely next to fondue recipes.
BBVA’s own Francisco Maroto, possibly wearing sunglasses indoors, claims this integration lets his bank provide “end-to-end custody service” with the kind of security that gives customers pleasant dreams about their digital coins tucked up in bed.
This entire escapade simply extends Ripple’s previous flings with BBVA-already causing safe crypto chaos in Switzerland and Turkey. But now, Ripple is buying actual real estate in Spain’s regulated digital asset market. Between all their global regulatory licenses (over 60, presumably all acquired legally and without bribing any extraterrestrials), Ripple is basically collecting passports.
The grand reveal: Traditional banks are finally realizing that if you want something done confusingly, it’s best to do it yourself. Instead of trusting third-party sorcerers, banks like BBVA are building in-house crypto dungeons complete with Ripple infrastructure. The crypto revolution might not be televised, but it’s definitely being added to your banking app-whether you requested it or not. 🚀🪙
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2025-09-09 10:53